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Congo Political Risk Threatens Growth, Despite Better Copper Prices -- Market Talk

27 Jun 2017 8:09 am

0809 GMT - Congo, Africa's top copper producer could see it's economy rebound from last year's slump aided by recovering global metal prices, but lingering political tensions pose renewed risks, says Moody's Investors Service.Moody's expects real GDP growth to reach 3.5% in 2017, followed by 5% in 2018 as mine output recovers, a bright spot for Congo, which saw its GDP growth slow to 2.4% last year from 6.9% in 2015 amid low copper prices. Moody's notes that Congo, which suffered a 5% slump in copper output in 2016 is now stabilizing aided by rebounding prices. But commodity price volatility and political instability stemming from President Joseph Kabila's refusal to step down after the expiry of his mandate last year pose economic headwinds. (Nicholas.Bariyo@wsj.com;@Nicholasbariyo)
 

(END) Dow Jones Newswires

June 27, 2017 04:09 ET (08:09 GMT)

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