The Congolese economy posted modest real GDP growth of 2.6% in 2024, marking a moderate increase in per capita income for the first time since 2016. This finding, according to the World Bank’s new Economic Update for the Republic of Congo, underscores that the progress registered has not yet translated into a significant reduction in poverty.
Entitled “Strengthen the management of produced, human and natural capital to raise living standards in the Republic of Congo “, the twelfth edition of the report calls on the State to strategically manage its debt and cash flow in order to strengthen the country’s fiscal sustainability and unleash its growth potential. It calls for protecting and expanding assets to improve people’s living standards.
The Republic of Congo has stepped up non-oil revenue mobilization and has made promising progress in public debt and treasury management reforms. However, while debt is declining, liquidity pressures remain elevated, calling for prudent cash management and additional efforts to rationalize public spending to improve fiscal sustainability.
Supported by local content policies, agricultural value chains have been strengthened, while regional demand has boosted manufacturing exports. At the same time, the contraction in oil production has highlighted the vulnerability of an economy still dependent on hydrocarbons, reminding us of the urgency of accelerating its diversification. Diversification is progressing but with limited labor absorption.
In the medium term, growth is projected at 2.8% in 2025, followed by a gradual recovery in 2026 and 2027. Lower oil prices and tighter financial conditions will test the country’s fiscal and external resilience.
The report highlights that the country has considerable assets, driven by its human and natural capital. Its forests, which cover more than 69% of the territory, store nearly 16 billion tonnes of carbon and provide essential ecosystem services. This wealth holds enormous potential: better management of natural capital, combined with greater investments in human capital, can sustainably raise wealth per capita.
“For a forest-intensive country like the Republic of Congo, an effective global financing mechanism is essential to turn carbon sequestration services into tangible benefits,” said Cheick Fantamady Kanté, World Bank Country Director for Cameroon, Central African Republic, Republic of Congo, Equatorial Guinea, and Gabon. “Estimating the value of these services is a critical first step, enabling policymakers, civil society, and the public at large to quantify and target the necessary compensation.”
The report recommends strengthening education and health, strengthening forest governance, and promoting local transformation of natural resources to create jobs, mobilize climate finance, and foster sustainable development.
It concludes with a call for concerted and scaled-up support from the international community to build more resilient, inclusive, and environmentally friendly growth for the well-being of all its people.
Distributed by APO Group on behalf of The World Bank Group.