DR Congo economy to grow faster on increased mining production
A worker drives a fork-lift past a machine pouring a mixture of copper and cobalt in a bag at the STL Lubumbashi in DR Congo. IMF has revised upwards the 2023 growth projections for the DRC to 8 percent following a “stronger-than expected” growth in mining production. PHOTO | PHIL MOORE | AFP
Business and Technology Reporter in Nairobi, Kenya
Nation Media Group
The International Monetary Fund (IMF) has revised upwards the 2023 growth projections for the Democratic Republic of Congo (DRC) to 8 percent, following a “stronger-than expected” growth in mining production which downplayed several risks currently weighing down the economy.
The multilateral lender said Kinshasa’s mining yields rose 20 percent last year, compensating for the “downward revision to non-extractive growth,” which is now projected to increase by 3.2 percent, a drop from last year’s 3.7 percent.
