Congolese Economic Growth Expected to Exceed 10% in 2014
27.01.2014, Kinshasa, DRC – The economy of the Democratic Republic of Congo (DRC) is on track to grow by over 10% in 2014 following GDP growth of 8.5% in 2013, according to the Congolese Prime Minister, and the IMF.
Full year 2013 GDP growth is expected to come in at 8.5%, ahead of a government set target of 8.2%. Meanwhile inflationary pressures remain subdued, annual inflation fell to 1.03% in 2013, the lowest rate amongst African countries.
Looking to the current year, the IMF forecasts GDP growth in the Congo to accelerate to 10.5% in its latest ‘World Economic Outlook’ (http://www.imf.org/external/pubs/ft/weo/2013/02/pdf/text.pdf). The forecast is some way ahead of the IMF’s forecast for sub-Saharan Africa GDP growth which stands at 5.7% for 2014.
TMB Continues to Invest across the DRC
TMB is the only bank to provide nationwide coverage across the Congo. TMB has opened an average of one new branch per month during the past three years demonstrating an unrivaled ability to deliver banking services to the Congolese market. We expect this investment, and the delivery of our services, to contribute to our clients’ economic well-being and to be a key driver of economic growth in the DRC.
TMB’s branch network expansion programme will continue apace in 2014, once again providing professional banking services for the first time in a number of communities across the country. Follow TMB on Twitter (@TMB_CD) for news of forthcoming branch openings.