Republic of Congo: 2015 Article IV Consultation-Press Release; and Staff Report

September 16, 2015

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Format: Chicago

Republic of Congo: 2015 Article IV Consultation-Press Release; and Staff Report, (USA: International Monetary Fund, 2015) accessed December 21, 2024

Also available in: français

Summary

This 2015 Article IV Consultation highlights that Congo’s growth was strong in 2014 and inflation was moderated, but the country has been hit hard by the oil price shock. Growth rose to 6.8 percent in 2014, driven by a rebound in oil production. The fiscal deficit amounted to 8.5 percent of GDP in 2014, a near doubling from 2013, owing mostly to increased spending and the lower oil revenues. The near- and medium-term outlook will be shaped by developments in the oil sector and the path and quality of fiscal adjustment. GDP growth in 2015 is projected at 1 percent and to average about 3 percent per year during 2015–20.

Subject: Budget planning and preparation, Expenditure, External debt, Oil prices, Prices, Public debt, Public financial management (PFM)

Keywords: Budget planning and preparation, CR, Debt, Deficit, Disbursement process, Exchange rate, Global, Government deposit, ISCR, Oil price shock, Oil price volatility, Oil prices, Oil revenue, Revenue shortfall, Right

Publication Details

Pages:

77
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2015/263
Stock No:

1COGEA2015001
ISBN:

9781513552248
ISSN:

1934-7685

Notes

Also Available in French

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