The Republic of Congo and the African Development Bank (AfDB) signed a $602,000 grant deal this month to update the country’s economic statistics, a move that could dramatically improve how Congo looks to international investors, as stated by the organization. Economy Minister Ludovic Ngatse and AfDB’s Central Africa Director General Leandre Bassole inked the agreement in Brazzaville on August 4th. The money comes from the bank’s Middle-Income Countries Technical Assistance Fund and will help Congo switch from outdated 2005 economic measurements to current international standards.
Congo hasn’t updated its baseline economic data since 2005, which means huge chunks of the modern economy aren’t being counted. The digital economy, telecommunications, informal businesses, and financial services have all grown massively but don’t show up properly in official statistics. That makes the country look poorer and riskier than it really is.
The project will adopt the 2008 System of National Accounts and prepare for the new UN standards coming in 2025. Those newer methods include environmental factors in measuring wealth – important for a resource-rich country like Congo. Minister Ngatse expects Congo’s GDP numbers to jump significantly once they capture all this missing economic activity.
“The debt ratio may fall significantly, and some macroeconomic indicators will improve,” he said.
Better numbers should help Congo’s reputation with lenders and investors. When your debt-to-GDP ratio drops because you’re actually measuring your real economy, that makes you look like a safer bet for loans and investment. Bassole emphasized that “credible economic data is essential for steering and implementing effective public policies.”
The 18-month project fits into Congo’s broader push to modernize its data systems through 2026. For the AfDB, it’s part of efforts to make better statistics a cornerstone of good governance across Africa.
