## Democratic Republic of the Congo: Staff-Monitored Program and Request for Disbursement Under the Rapid Credit Facility; Press Release; Staff Report; and Statement by the Executive Director for the Democratic Republic of the Congo

_IMF Staff Country Reports, December 23, 2019_

## Source details

**Canonical URL:** [Democratic Republic of the Congo: Staff-Monitored Program and Request for Disbursement Under the Rapid Credit Facility; Press Release; Staff Report; and Statement by the Executive Director for the Democratic Republic of the Congo](https://www.imf.org/en/publications/cr/issues/2019/12/23/democratic-republic-of-the-congo-staff-monitored-program-and-request-for-disbursement-under-48913)

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## Bibliographic details
- Published: December 23, 2019
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781513524320.002

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### Economic outlook and vulnerabilities
- Real gross domestic product growth is projected to decelerate to 4.5 percent in 2019 from 5.8 percent in 2018.
- The economic environment is described as challenging and vulnerable to shocks.
- The recent fall in commodity prices contributed to weaker economic performance.

### Fiscal position and financing
- New spending initiatives and looser spending oversight during the political transition period have led to a weaker fiscal position.
- The weaker fiscal position was mostly financed by the central bank.
- Authorities intend to introduce strict spending caps.

### Balance of payments and international reserves
- International reserves have fallen to critically low levels, creating urgent balance of payment needs.
- The government is committed to measures and reforms that would reinforce international reserves.

### Revenue mobilization and tax administration
- Authorities intend to boost domestic revenue by:
  - restoring the functioning of the value-added tax;
  - enforcing the personal income tax;
  - improving mining revenue forecasting.
- Keywords in the report include: revenue administration, mining revenue forecasting, and mining sector.

### Monetary policy and institutional reforms
- The government intends to increase the effectiveness of monetary policy.
- The paper highlights issues related to poor governance and a difficult business environment.
- Authorities express commitment to reforms to strengthen macroeconomic stability and address pervasive poverty.

### Inclusive growth and development priorities
- Plans to foster inclusive growth and private sector development include:
  - infrastructure projects;
  - free basic education.

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_Source: https://www.imf.org/en/publications/cr/issues/2019/12/23/democratic-republic-of-the-congo-staff-monitored-program-and-request-for-disbursement-under-48913_