litical disputes - is struggling to
upgrade education and technical training, privatize commercial and
industrial enterprises, improve health services, diversify exports,
promote tourism, and reduce the high population growth rate. The
political problems caused the economy to contract in 2007.
Remittances from 150,000 Comorans abroad help supplement GDP.
Congo, Democratic Republic of the
The economy of the Democratic
Republic of the Congo - a nation endowed with vast potential wealth
- is slowly recovering from two decades of decline. Conflict, which
began in August 1998, dramatically reduced national output and
government revenue, increased external debt, and resulted in the
deaths of more than 3.5 million people from violence, famine, and
disease. Foreign businesses curtailed operations due to uncertainty
about the outcome of the conflict, lack of infrastructure, and the
difficult operating environment. Conditions began to improve in late
2002 with the withdrawal of a large portion of the invading foreign
troops. The transitional government reopened relations with
international financial institutions and international donors, and
President KABILA has begun implementing reforms, although progress
is slow and the International Monetary Fund curtailed their program
for the DRC at the end of March 2006 because of fiscal overruns.
Much economic activity still occurs in the informal sector, and is
not reflected in GDP data. Renewed activity in the mining sector,
the source of most export income, boosted Kinshasa's fiscal position
and GDP growth. Government reforms and improved security may lead to
increased government revenues, outside budget assistance, and
foreign direct investment, although an uncertain legal framework,
corruption, and a lack of transparency in government policy are
continuing long-term problems.
Congo, Republic of the
The economy is a mixture of subsistence
agriculture, an industrial sector based largely on oil, and support
services, and a government characterized by budget problems and
overstaffing. Oil has supplanted forestry as the mainstay of the
economy, providing a major share of government revenues and exports.
In the early 1980s, rapidly rising oil revenues enabled the
government to finance large-scale development projects with GDP
growth averaging 5% annually, one of the highest rates in Africa.
The government has m
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