maandag 16 april 2012

The economics of Congo - week 10 - Roselinde Vandepitte

Hi everyone,

It seems that the end of our trip is coming closer… Travelling through Africa brought us In Congo this time. As Anou said, Melisa, Julie and I will guide you through our last country, but fortunately there are still two countries to go!
If I think about Congo, the first thought that comes to my mind is that this country is very poor. I took the travel guide and looked up some information. Since 1950 the economy of Congo has drastically declined. From 1965 through 1997, Mobutu and his associates stole billions of dollars from the Zairian (this was the name of Congo during the Cold War) economy. Because of this, the Zaire’s infrastructure crumbled. The economy began to recover in 2010 and the economy is expected to grow at around 6.5% over the next two years.
The growth in 2010 was strengthened by increased private consumption. Private investment also rose with more government efforts to repair the infrastructure.
We went to Kinshasa, located on the south bank of the Congo River because this is together with Lubumbashi Congo’s most important industrial region. These industries produce processed copper, zinc, refined petroleum, processed foods and beverages, and basic consumer goods such as clothing and footwear.
Our guide who took us with him told us more; oil production and forestry are the main economic activities of Congo. According to 2006, Congo has an oil reserve of approximately 1.5 billion bbl (billion barrels). The country's export earnings come almost entirely from sales of primary products.
It also seems that this nation is rich in natural resources such as diamonds, cobalt and copper. The different sectors of Congo are: agriculture, fishing, forestry and mining. Agriculture seems to be the most important source for this country. They cultivate coffee, palm oil, rubber, cotton, sugar, rice, maize, coffee, etc. The agriculture sector provides 66% of the work force.  The numerous rivers of Congo give an immense potential for producing hydroelectricity. Ok, I have talked too much, time to sleep!
With love,

Roselinde







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