logo

Congo central bank raises 2020 GDP forecast to -1.7%

PUBLISHED: Tue, 18 Aug 2020 12:13:30 GMT

Share

(Reuters) – Democratic Republic of Congo’s central bank said on Monday it expected the economy to contract -1.7% in 2020, improving on an earlier forecast of a -2.4% contraction due to higher mining receipts.

The mining sector has performed better than anticipated because of the success of confinement measures introduced to combat the coronavirus, paired with a rise in the global price of copper, one of Congo’s key exports, the central bank said in a statement.


Get the best of CNBC Africa sent straight to your inbox with breaking business news, insights and updates from experts across the continent. Sign up here.

RELATED