Congo central bank cuts 2016 GDP growth forecast to 2.5%

Democratic Republic of Congo’s central bank cut its 2016 GDP growth estimate to 2.5 percent from an earlier forecast of 4.3 percent due to low commodity prices, it said in a report on its website.

Congo, Africa’s largest copper producer, recorded 6.9 percent growth in 2015 but the output of copper, cobalt and gold have all fallen this year. The mining and oil sectors account for some 95 percent of export revenues.