Moody's is optimistic about the Democratic Republic of Congo's (DRC) growth prospects through 2028. "We expect the DRC economy to continue to grow with an average real GDP growth rate of around 6% until 2028," the US rating agency stated in a report obtained by Bankable. According to the agency, the mining sector will mainly drive this growth;  especially copper, a mineral crucial for the global energy transition.  and for which the DRC is Africa's leading producer.

Inflation is also under control, with Moody's predicting it will drop below 10% by the end of 2025, down from 23.8% at the end of 2023. This decrease would improve purchasing power for Congolese citizens and stabilize the economy, making it more attractive to foreign investors and boosting domestic spending.

The DRC's economic growth is supported by various initiatives. In the mining sector, which drives the economy, transition minerals are in high demand, with prices exceeding initial forecasts. The government strives to keep inflation in check while maintaining growth, aided by a trade surplus that supports the national currency.

Besides the mining sector’s boom, the Congolese government plans to boost growth through public investment. A proposed public spending project of over $3.7 billion from 2025 to 2028 is currently under discussion in parliament and aims to improve infrastructure. If approved, this project could be fully funded by revenues from the extractive sector, which totaled $5.7 billion in 2023. Also, the Development Plan covering the country’s 145 territories aims to stimulate local economies. The second phase of this plan is being discussed at the moment. 

While the DRC needs to improve its ability to mobilize internal resources, its low public debt, just 15% of GDP, is a major advantage. The figure is well below the sub-Saharan African average of 58%. This allows it to raise capital internationally on favorable terms, supporting investments in key areas like agriculture, housing, and energy.

The DRC is a nation with great potential and resources. However, it could achieve inclusive and sustainable growth if it overcomes its challenges. Economic diversification and infrastructure improvement are priorities, and with effective policies and a clear vision, these goals are achievable. Moody's optimism reflects the DRC's resilience and potential for growth.

Georges Auréole Bamba