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Democratic Republic of Congo
Real GDP grew 8.5% in 2022, up from 6.2% in 2021, thanks to momentum in the extractive sector (which grew 20.8%) and recovery in the nonextractive sector (which grew 3.2%), driven by services despite a deteriorating security situation in the east of the country. Economic growth was driven on the demand side by robust exports (which grew 23.8%) and investment (which grew 18.6%), despite a global energy crisis. Inflation reached 9.1% in 2022 due to high food and imported energy prices. The budget deficit widened to 2.8% of GDP in 2022 from 0.9% in 2021 due to exceptional spending (security, elections) and despite the exceptional increase in revenue and aid, which rose to 17.2% of GDP from 13.7% in 2021.
Key Facts
Bank intervention strategy
- Priority area 1: Develop infrastructure to support private investment and facilitate regional integration.
- Priority area 2: Build Government’s capacity to increase public revenue and create an incentive framework for private investment.
DRC continues to face many major, lingering challenges, which justifies the decision to maintain the CSP pillars in the next extension. The country’s huge infrastructure deficit continues to impede private investment and limit sector contribution to economic growth. This infrastructure gap is particularly felt in the transport and energy sectors where less than 20% of the population have access to electricity in 2020 and most provinces remain inaccessible.
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Contacts
Democratic Republic of Congo Country Office
Mr. Solomane Koné, Solomane, Deputy Director General of Africa Central Region, and Country Manager of Democratic Republic of Congo
Groupe de la Banque africaine de développement
294, Boulevard du 30 Juin
6e Etage, Immeuble de la BCDC (Banque Commerciale du Congo)
Kinshasa/Gombe
B.P. 7525 Kinshasa I
Tél : (243) 815 560 291
Fax : (243) 815 560 294
Regional Development, Integration and Business Delivery Office (RDIB)
Ms. Chantal Modeste NONAULT, Executive Director
Vacant, Senior Advisor
Ms. Constance MBONIHANKUYE, Advisor
Vacant, Alternate Executive Director
African Development Bank Group
Rue Anoma 01 BP 1387 Abidjan 01 (Cote d'Ivoire)
Tel: +225 20 26 22 51