The World Bank (WB) published its latest report on the Democratic Republic of Congo on Friday 7 October 2022. Entitled “DRC Economic Update: Digital Inclusion for Equitable Growth”, the World Bank (WB), the international institution notes through this report, signs of resilience in recent developments but with persistent vulnerabilities. Poverty is still growing despite the country’s many natural resources.
In its latest report dated Friday, October 7, the WB reports an unprecedented context for the Congolese economy. It is illustrated, according to the institution, by a controlled impact of COVID-19 on public health despite the social deficit; the effects of the war in Ukraine as well as major political changes.
Impact of COVID-19 under control, but the social gap is widening
Despite the control of the impact of covid on public health, the WB indicates a deepening of the social deficit, namely :
– DRC is the second most impoverished country (extreme) with a Human Development Index (HDI) of 0.37; – Numerous cases of contamination recorded, however the number of deaths remains low; – Measures taken of weak application, including for vaccination; – In the meantime, health care remains overburdened, by the persistence of other simultaneous epidemics (Ebola and measles); – Infant mortality rate of 63.8 per 1,000 live births (compared to 50.3 in SSA)
Effects of the war in Ukraine on the economy
At this level, the WB report notes 3 effects of the war in Ukraine on the Congolese economy:
– Improved terms of trade and current account balance due to mineral exporting status;
– Increase in the price of imported food and petroleum products;
At the political level
The WB noted two political facts about the situation in the DRC:
– First relatively peaceful transfer of power and a new president of the Republic; – A new government with a new vision (in addition to progress towards gender equality).
The Democratic Republic of Congo (DRC) is the largest country in sub-Saharan Africa. It has exceptional natural resources. However, by 2021, nearly 64 percent of the country’s population – just under 60 million people – were living on less than $2.15 a day. It should be noted that nearly one in six people in extreme poverty in sub-Saharan Africa live in the DRC.
