The governor of the central bank of Congo (BCC), Malangu Kabedi Mbuy, announced last Friday in the council of ministers chaired by President Félix Tshisekedi that the price of a tonne of cobalt remained at $32,750.
According to the council report, the boss of this institution responsible for maintaining Congolese monetary stability, reviewed the economic situation of the country in an international context of persisting risks linked to geopolitical and geostrategic tensions.
She, however, indicated that the prices of the main mining products exported by the Democratic Republic of Congo have evolved well.
“The price of a tonne of cobalt remained at 32,750 USD, its level since the end of November 2023, while the price of copper increased by 1.47%, standing at 8,341 USD. The price of gold fell by 0.81%, week over week, settling at 2,016 USD per ounce,” the report said.
According to the same source, Malangu Kabedi Mbuy indicated in another register that at the internal level, growth is estimated at 4.8% in 2024, down 3.8 points compared to the estimate for the year. passed. This growth would be driven mainly by the primary sector, in its extractive industry sub-branch.
As for inflation, the governor of the central bank of Congo stressed that it evolved at a less accelerated pace, i.e. 2.31% in the third week of February 2024, while in the corresponding period of 2023, it stood at 3.58%.
“As for the foreign exchange market, the national currency depreciated by 0.62% at the indicative level. On the other hand, at the same time, the Congolese Franc appreciated by 0.52%,” mentioned the same source.
Considering internal risk factors such as the consequences of imported inflation on the national economy and the persistence of the war in the eastern part of the country, the Governor of the Central Bank of Congo recommended the extension of stabilization measures put in place by the Government and its Institution, added the report.
Note that Malangu Kabedi Mbuy encouraged the continued preservation of the coordination of budgetary and monetary policy actions; the continuation of rigorous monitoring of liquidity factors by the Central Bank as well as the coordination of sectoral policies in order to reduce the country’s dependence on imports, and to ease pressure on the foreign exchange market.
2024-02-26 15:34:25
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