Congo gets AfDB $602,000 grant to rebase GDP, curb debt ratio
- The Republic of Congo secured a $602,000 grant from the African Development Bank for national accounts overhaul.
- The project aims to revise the country's GDP by updating the base year from 2005 to 2008.
- The overhaul will better capture contributions from sectors like digital services and telecommunications.
The initiative to update the national accounts is a crucial step for the Republic of Congo, as it not only aims to provide a more accurate reflection of the economy but also enhances the country's credibility in international markets. This could lead to improved financing conditions and better public policy implementation, which is essential for sustainable development.
