Congo-WB-Economy

Congo out of recession – World Bank

APA-Brazzaville (Congo) by correspondent Leon Charles Moukouri

Albert Zeufack, chief economist of the World Bank for Africa, announced Wednesday via video conference from Washington (USA) that Congo is emerging from recession.

“Congo is nearing the end of its recession notwithstanding the conclusion of a programme with the International Monetary Fund (IMF) which is slow to be recorded,” Albert Zeufack announced.

He was speaking on the situation of the economies of the CEMAC zone (Economic and Monetary Community of Central Africa) during the presentation of the half-yearly World Bank report called Africa's Pulse.

Continuing his analysis, Zeufack said “the road is full of pitfalls, but it takes huge reform efforts in order to maintain this growth.”

With regards to the World Bank's concrete strategies for Sub-Saharan Africa in general and the Congo, in particular, to balance their account, Zeufack said “Sub-Saharan African countries need to invest in job-creating sectors to make their debt sustainable.”

Congo, a member of the CEMAC zone, has a debt estimated at more than 117% of its gross domestic product (GDP).

Since 2014 the country has been grappling with an economic crisis, which is hitting hard the population.


LCM/te/pn/afm/APA

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