Country Economic Forecasts - Congo Rep

Country Economic Forecasts - Congo Rep

The Congolese economy’s growth is forecast to remain negative in 2021, as oil production has fallen while growth in the non-oil sector appears to be muted. A lack of investment has throttled oil production, while activity in the non-oil sector has suffered due to ongoing domestic arrears, supply-chain disruptions, and dismal vaccination rates. Economic activity is expected to pick up in 2022, as both the oil and non-oil sectors record a more meaningful recovery. Downside risks to our outlook include an unexpected fall in oil production, a large drop in the price of oil, and uncertainties related to the pandemic.