Democratic Republic of Congo
Despite its high natural resources potential, it is agriculture that accounted for 57.9% of the country’s GDP in 1997 and employs about 66% of the work force. However, high inflation has kept the economy from growing and despite efforts from the World Bank and the IMF, inflation is still increasing. The reason for which DRC’s economy is doing so badly is because politics of corruption and self-interest have taken over the country and kept the economy frozen.
However, with military conditions improving in the 2000’s and the World Bank and IMF taking an active role in developing the country, DRC has a chance to shift from agriculture and invest more into its infrastructure and experience growth in upcoming years.
Even though it will take time for the Republic to develop its infrastructure it has growth potential due to its selective markets such as diamond market and mineral market which it has the ability to dominate under good leadership.
Macro-economic Data:
GDP: $42.74 billion (2004)
GDP Growth Rate: 7.5% (2004)
Population: 62,600,000 (21st)
GDP Per Capita: $700 (2004)
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