Republic of Congo Economic Update, September 2014 : The Road to Economic Development
Congo's current growth trend is lower than the projected rate of growth in the 2012-2016 National Development Plan (NDP). Congo should continue investing intensively but more efficiently in infrastructure, an urgent need. Ample evidence shows...
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| Format: | Economic Updates and Modeling |
| Language: | English en_US |
| Published: |
World Bank, Washington, DC
2014
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| Online Access: | http://documents.worldbank.org/curated/en/2014/09/20274148/republic-congo-follow-up-report-economic-financial-situation http://hdl.handle.net/10986/20737 |
| Summary: | Congo's current growth trend is
lower than the projected rate of growth in the 2012-2016
National Development Plan (NDP). Congo should continue
investing intensively but more efficiently in
infrastructure, an urgent need. Ample evidence shows that
investment efficiency in infrastructure is critical for
economic development. Given the importance of this issue for
the future growth trajectory of the country, the second part
of the update focuses on efficient investment in
infrastructure. By focusing on improving government
efficiency, the Republic of Congo would be well positioned
to achieve sustained and diversified growth, rather than
continuing on the current path that is largely driven by
higher levels of public investment. The Congolese government
can achieve better public investment outcomes by
implementing sound public financial management policies in
these areas. These include better preparation and planning
of investment projects, introduction of systems-based
commitment of reform in the procurement and disbursement
system to speed up the processes and make them more transparent. |
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