Mining sector helps Congo avert recession in 2020
The economy of the Democratic Republic of Congo averted an estimated pandemic-induced recession to develop by 0.8 percent in 2020 on the back of strong mining activity, a central bank official said on Tuesday.
Development is projected to increase this year to 3.2 percent, the official, Plante Kibadhi, said in a tweet.
Last April, the International Monetary Fund estimated that the economy of the Congo will contract by 2.2% in 2020 due to the fall in prices for main exports such as copper and the consequence of the coronavirus pandemic.
Since last March, the price of copper, of which Congo is Africa’s biggest producer, has increased by 93 percent. On Tuesday, it briefly reached its highest point since 2012, powered by optimism about China’s demand and the global.