DRC: the inflation rate stood at 0.11% in the 4th week of October 2024

The Governor of the Central Bank of Congo (BCC), Malangu Kabedi, informed members of the Government of developments in the domestic economic situation, underlining the stability of the macroeconomic framework thanks to ongoing efforts to coordinate fiscal and monetary policies.

According to Madame Kabedi Malangu, the weekly inflation rate stabilized at 0.11%, bringing the year-to-date figure to 10.38%. This figure is well below the 18.97% recorded for the same period in 2023.

This improvement reflects the BCC’s efforts to control inflation and stabilize the purchasing power of the Congolese people.

On the foreign exchange market, the Congolese franc showed signs of stability. It depreciated by 0.37% on the indicative market, while appreciating by 0.47% on the parallel market. This duality indicates a certain resilience of the national currency in the face of global economic fluctuations.

As regards key export products for the Congolese economy, with the exception of copper, world prices have generally been on an upward trend. This could have a positive impact on export earnings and, consequently, on the country’s public finances.

The Governor of the BCC recommended maintaining a coordinated fiscal and monetary policy framework to deal with internal and external risk factors. She also stressed the importance of pursuing the structural reforms needed to transform the Congolese economy.

Coordination between the various economic policies is essential to guarantee macroeconomic stability.

Ms. Kabedi Malangu emphasized that this approach would not only help manage economic risks, but also foster an environment conducive to investment.

Structural reforms are crucial to improving the competitiveness and resilience of the Congolese economy.

For the Governor of the BCC, these reforms must focus on improving infrastructure, education and health to support sustainable development.

Effective management of public finances is essential to support investment in priority sectors.

The BCC plays a key role in this dynamic by ensuring that monetary policies support the Government’s budgetary objectives.

The economic outlook for the DRC looks promising if the Governor’s recommendations are implemented. A strong commitment to good governance and prudent management of financial resources could enable the country to overcome its economic challenges.

The stability of the Congolese macroeconomic framework is the fruit of concerted efforts by the budgetary and monetary authorities.

The Governor of the BCC pointed out that to maintain this stability, it is imperative to continue coordinating economic policies, while pursuing the reforms necessary for the sustainable transformation of the Congolese economy.

The next steps will be crucial to ensure that these efforts translate into tangible improvements in the living conditions of the Congolese people.

Mitterrand MASAMUNA