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In early 2008, the Congolese economy experienced a drop in growth nearly across the board for reasons such as macroeconomic instability, a fragile political situation and the country's structural weaknesses. This slowdown was aggravated by the combined food and energy crises. At the end of 2008, the international financial crisis and the resumption of conflicts exacerbated the situation.
In terms of exports, the DRC benefited from rising global prices for its main export products, as well as high global demand during the first half
of the year. With the overall slackening in the global economy, external demand plummeted at the end of 2008. The situation is expected to continue
in 2009. As for imports, a slowdown was also observed, tied to lower investments and the currency shortage caused, once again, by the financial crisis.
In 2008, the trade balance showed a surplus equivalent to 7.3 per cent of GDP; it is expected to fall to 4.1 per cent in 2009.
Your commentsMy country's rich in minerals, But we've corrupt politicien and thieves. Then we say we're suffering beacause of foreigners. When you talking about business in DRC don't forget about corruption. I don't see the point to do business there if the so much corruption. Congo really sucks when it comes to doing business. There no way the economic situation would improve, because there aren't any regulations or guidlines to square the way businesses are supposed to operate. So, any governments official is allowed to harrass business man for a quick pay out!!! The problem is that corruption is exacerbated by public servants being paid very poorly or in many cases not paid at all which is very common in the DRC so to survive they need to earn money from their position.There is a need to have politicians who have the people rather than their wealth We facilitate individuals and companies that want to do business in DRC. We work to tackle the gap between the perception and the reality of doing business in Congo DRC. Relationships is the key to business success in the Congo DRC. It is sad that people tend to only see the negative side of the situation. As a businessman I think DRC offers plenty opportunities to do business. Remember every challenge creates an opportunity for business in Congo. Now is the best moment to invest in congo. When order will settle it will be hard |
The political and security situation in the DRC is still very precarious, despite the fact that elections were held and the new institutions have been set up. Several political incidents punctuated the 2008 year, and instances of weak governance were also observed. In January 2008, two American research centers - the Brookings Institution and the Center for Global Development - published a report in which they classified 141 countries according to their performance in economic, political, security and social matters. According to the indicators used, Somalia, Afghanistan and the DRC were the world's "weakest" states. The report established a direct link between low income and the absence of governance, and defines a weak state as one that is unable to set up and maintain political institutions, protect its population from conflict, control its territory or meet the basic needs of the population. In an attempt to improve government effectiveness within the country, the president of the Republic established an entity called the "réunion inter institutionnelle" to provide impetus and arbitration. Its mission is to reconcile and harmonize government institutions and ensure their mechanisms operate effectively. Prime Minister Antoine Gizenga resigned on 26 September2008. He was replaced by Adolphe Muzito, the outgoing budget minister and member of the Unified Lumumbist Party (PALU), which is also Gizenga's party. A new government was named on 26October 2008 and is made up of 37 ministers (including three vice-prime ministers); the previous team had 32 ministers. |
What do you think about the current political situation?Your commentsMy Country is dead. The president is a foreigner. He does not care about this country. Just like Mr. Mobutu who invested in foreign banks so much money he stolen in Country. Thanks to Lord he is dead. Let give the president the chance. H'es not foreigner is african. That's fine let stop to be tribalism. When we talk about politic in DRC is a joke. Then it has been like since time of Mobutu era. Everyone come into power in my country are jokers, thieves, ditactors and not decent politicien. For me ,all tha is nonses because ,in drc we though leders like lumumba. |
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Your commentsI do know if there is place to visit in my Country. May be Flats the Congolese are building who are comming from UK. There're lot of nice place to visit in DR Congo. Do't let civil war fool you. We've one best florest in Africa where you can see gorilas. There're nice place to visit in DR congo, specially if go to East of congo into forest to see the gorilas. |