Congo, AfDB Seal $602,000 Deal to Rebase Economy
The Government of the Republic of Congo and the African Development Bank Group (AfDB) have signed a $602,000 grant agreement to modernise the country’s economic statistics by rebasing its national accounts, a move expected to boost fiscal transparency and market confidence.
The agreement was signed on 4 August in Brazzaville by Ludovic Ngatsé, Minister of the Economy, Planning and Regional Integration and the Bank’s Governor for Congo, and Léandre Bassolé, AfDB Director General for Central Africa. Funding will come from the Bank’s Middle-Income Countries Technical Assistance Fund.
The project will update the base year for calculating Congo’s national economic indicators from 2005 to align with the 2008 System of National Accounts (SNA 2008) and prepare for the transition to SNA 2025, recently adopted by the United Nations. SNA 2025 introduces new measures, including the valuation of environmental goods and services, which is particularly relevant for Congo’s resource-rich economy.
The revised base year will also better capture underrepresented sectors such as digital services, telecommunications, the informal economy, non-profit institutions, and digital financial services.
“This project aims to ensure that Congo’s GDP reflects its true value,” said Minister Ngatsé. “The debt ratio may fall significantly, improving macroeconomic indicators and strengthening our transparency and credibility with technical and financial partners. This will enhance our risk profile and help mobilise more resources for development.”
A significant upward revision of nominal GDP is anticipated, which could lower the debt-to-GDP and deficit-to-GDP ratios – key measures in debt sustainability assessments. Improved indicators are expected to raise investor confidence and potentially secure access to more favourable financing terms.
“Credible economic data is essential for steering effective public policies,” said Bassolé. “This recalibration will strengthen economic governance, improve Congo’s visibility on international markets, and integrate sustainability and environmental criteria into wealth measurement.”
The 18-month project forms part of Congo’s National Statistics Development Strategy (SNDS II 2022–2026), which aims to produce reliable, up-to-date, and disaggregated data to guide public policy and promote inclusive development.
The grant highlights the AfDB’s commitment to strengthening statistical systems as a foundation for economic governance, fiscal transparency, and monitoring of the Sustainable Development Goals – priorities aligned with its Ten-Year Strategy 2024–2033 and the African Union’s Agenda 2063.
