Central bank announces favorable economic outlook in DRC

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Given the favorable economic outlook, the Central Bank of Congo (BCC) is pleased. During a press conference held on Thursday, May 16th, at the end of the fourth meeting of the Monetary Policy Committee (CPM), the Governor of the BCC, Deogratias Mutombo announced the maintenance of the status quo of the current monetary device. This, in other words, means that indicators of the macroeconomic framework are showing encouraging signs.

Thus, in the goods and services market, price developments show a monthly inflation of 0.370% against 0.275% the previous month. Year-to-date, inflation reached 1.3% against 3.7% in 2018. All other things being equal, annualized inflation stands at 4.2% at the end of December 2019 compared with 7.2% a year earlier. year before.

At the external market level, the statistics indicate that the foreign exchange market has indicated exchange rate stability in its two compartments.

At the end of April 2019, the national currency appreciated by 0.01% and 0.21% respectively on the interbank and parallel markets compared to March 2019, placing the exchange rate at 1.639.0 CDF for the US dollar. and at CDF 1,638.9. As of May 13, 2019, the indicative and parallel rates were CDF 1,639.92 per US dollar and CDF 1,667.00 respectively.

Foreign exchange reserves exceeded the target of 1.1 billion at the end of April 2019. As of May 6, 2019, they reached US $ 1.13 billion, corresponding to 4 weeks and 3 days of imports of goods and services. services on own resources.

As for the monetary sector, the monetary aggregates show a rise in the monetary base of 5.8%, amounting to CDF 2,862.0 billion, explained mainly by the rise in net foreign assets. Outstanding Bon BCC stood at CDF 40.0 billion, a monthly loss of CDF 2.5 billion and an annual injection of CDF 2.5 billion.

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