APA-Brazzaville (Congo) – Inflationary pressures are expected to persist, exceeding the threshold of 3.5 percent of the Economic community of Central African States, due to the global food crisis.
The Congolese authorities are forecasting GDP growth of 5.3 percent this year, compared with 2 percent in 2023. This increase is attributed to the anticipated recovery in oil production (+5.9 percent) and the solid performance of the non-oil sector (+5 percent), according to estimates by the Directorate General of the Economy (DGE) under the Ministry of the Economy and Finance.
In its April report published in Brazzaville, the DGE indicates that the current account surplus should decline to 6.0 percent of GDP in 2024, from 8.9 percent in 2023.
The report also points to an increase in net external assets, a rise in net domestic credit, forecast growth in credit to the economy, an expansion in the money supply and a rebuilding of gross official reserves over the period 2024-2025.
In addition, inflationary pressures are expected to persist, exceeding the community threshold of 3.5 percent, due to the persistent global food crisis and the stalemate in the Russian-Ukrainian conflict, according to the same report.
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