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Economy continues downward spiral

    NAIROBI

    July and August were marked by continued economic decline and a worsening humanitarian situation marked by high mobility of affected populations within the country and across borders, a humanitarian bulletin by UN OCHA and UNDP reported. "Economic indicators continued to depict an incessant decline", with a depreciating Congolese Franc (CF) - from 9.5 to 12 CF to
    the dollar between July and August - and soaring inflation which "affected the Congolese market in its entirety", the report stated.

    "Copper and cobalt production, as well as diamond mining, that constitute the pillars of the country's economy and the only major sources of income of the state budget are undergoing a dramatic recession" since last year, it added, citing a drop of 96 percent for mineral production and 26 percent for diamonds. In addition, agricultural production has been severely affected by conflict, insecurity and population displacements.

    This article was produced by IRIN News while it was part of the United Nations Office for the Coordination of Humanitarian Affairs. Please send queries on copyright or liability to the UN. For more information: https://shop.un.org/rights-permissions

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