The Democratic Republic of Congo (DRC) has cut its economic growth forecast for 2016 to 4.3% - compared with last year’s figure of 6.9% – largely driven by the impact of low commodity prices on the mining-dependent economy.
The office of the Prime Minister, Augustin Matata Ponyo, said in a statement that copper output had slumped 14% in the first half of the year. Furthermore, production of cobalt – the metal used in lithium-ion batteries – dropped by 13% over the same period.
According to Reuters news agency, Africa’s top producer of copper relies on its mining and smaller oil industry for about 95% of its export earnings.
