Authors: Michel Diumu Omasombo
Based on the assertion, held since the 1950s, that raw material exports play an important role in economic development and, for some countries, constitute the engine of economic growth; and observing that many countries without natural resources have achieved faster growth, the study poses the crucial question of the relationship between raw material exports and economic growth in light of the 28 urgent measures published by the Government in January 2016 on the resilience of the Congolese economy.
These so-called urgent measures are taken with the aim, firstly, of stabilizing the economy, preserving the gains of growth, and, to a certain extent, preparing the conditions for the economic and social emergence of the DRC; and secondly, of advancing the desired process of diversification of the national economy. To achieve this, these measures are implemented through three axes: (i) increasing the Treasury’s financial resources; (ii) rationally controlling the quality of public spending; and (iii) structural reform of the economy.
In short, the export of raw materials alone cannot support economic growth, especially when the revenues are allocated to monuments.
In conclusion, the study proposes the gradual diversification of the Congolese economy and the deepening of values, particularly in the mining, hydrocarbons, and agriculture sectors, without overlooking the need for good administrative, judicial, and economic governance.
