IDEAS home Printed from https://ideas.repec.org/p/imf/imfscr/2015-263.html
   My bibliography  Save this paper

Republic of Congo: 2015 Article IV Consultation-Press Release; and Staff Report

Author

Listed:
  • International Monetary Fund

Abstract

This 2015 Article IV Consultation highlights that Congo’s growth was strong in 2014 and inflation was moderated, but the country has been hit hard by the oil price shock. Growth rose to 6.8 percent in 2014, driven by a rebound in oil production. The fiscal deficit amounted to 8.5 percent of GDP in 2014, a near doubling from 2013, owing mostly to increased spending and the lower oil revenues. The near- and medium-term outlook will be shaped by developments in the oil sector and the path and quality of fiscal adjustment. GDP growth in 2015 is projected at 1 percent and to average about 3 percent per year during 2015–20.

Suggested Citation

  • International Monetary Fund, 2015. "Republic of Congo: 2015 Article IV Consultation-Press Release; and Staff Report," IMF Staff Country Reports 2015/263, International Monetary Fund.
  • Handle: RePEc:imf:imfscr:2015/263
    as

    Download full text from publisher

    File URL: http://www.imf.org/external/pubs/cat/longres.aspx?sk=43284
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Christophe Kamps, 2006. "New Estimates of Government Net Capital Stocks for 22 OECD Countries, 1960-2001," IMF Staff Papers, Palgrave Macmillan, vol. 53(1), pages 1-6.
    2. Gupta, Sanjeev & Kangur, Alvar & Papageorgiou, Chris & Wane, Abdoul, 2014. "Efficiency-Adjusted Public Capital and Growth," World Development, Elsevier, vol. 57(C), pages 164-178.
    3. Christophe Kamps, 2006. "New Estimates of Government Net Capital Stocks for 22 OECD Countries, 1960-2001," IMF Staff Papers, Palgrave Macmillan, vol. 53(1), pages 1-6.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Vetlov, Igor & Ferdinandusse, Marien & de Jong, Jasper & Funda, Josip, 2017. "The effect of public investment in Europe: a model-based assessment," Working Paper Series 2021, European Central Bank.
    2. Francois, John Nana & Ahmad, Nazneen & Keinsley, Andrew & Nti-Addae, Akwasi, 2022. "Heterogeneity in the long-run remittance-output relationship: Theory and new evidence," Economic Modelling, Elsevier, vol. 110(C).
    3. Javier Barbero & Martin Christensen & Andrea Conte & Patrizio Lecca & Andrés Rodríguez‐Pose & Simone Salotti, 2023. "Improving Government Quality in the Regions of the EU and its System‐Wide Benefits for Cohesion Policy," Journal of Common Market Studies, Wiley Blackwell, vol. 61(1), pages 38-57, January.
    4. Renato Santiago & Matheus Koengkan & José Alberto Fuinhas & António Cardoso Marques, 2020. "The relationship between public capital stock, private capital stock and economic growth in the Latin American and Caribbean countries," International Review of Economics, Springer;Happiness Economics and Interpersonal Relations (HEIRS), vol. 67(3), pages 293-317, September.
    5. Nelson C. Modeste, 2021. "Efficiency-adjusted Public Capital and Economic Growth in Guyana: A Cointegration Analysis," Atlantic Economic Journal, Springer;International Atlantic Economic Society, vol. 49(2), pages 187-199, June.
    6. Jen‐Chung Mei, 2023. "Foreign direct investment and relative capacity: Theory and evidence," Economics of Transition and Institutional Change, John Wiley & Sons, vol. 31(4), pages 1175-1214, October.
    7. Giovanni Ganelli & Juha Tervala, 2020. "Welfare Multiplier of Public Investment," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 68(2), pages 390-420, June.
    8. Matt Lowe & Chris Papageorgiou & Fidel Perez‐Sebastian, 2019. "The Public and Private Marginal Product of Capital," Economica, London School of Economics and Political Science, vol. 86(342), pages 336-361, April.
    9. An, Zidong & Kangur, Alvar & Papageorgiou, Chris, 2019. "On the substitution of private and public capital in production," European Economic Review, Elsevier, vol. 118(C), pages 296-311.
    10. Trofimov, Ivan D., 2020. "Public capital and productive economy profits: evidence from OECD economies," MPRA Paper 106848, University Library of Munich, Germany.
    11. Mr. Sanjeev Gupta & Michela Schena & Mr. Seyed Reza Yousefi, 2018. "Expenditure Conditionality in IMF-supported Programs," IMF Working Papers 2018/255, International Monetary Fund.
    12. Tamon Asonuma & Hyungseok Joo, 2021. "Public Capital and Fiscal Constraint in Sovereign Debt Crises," School of Economics Discussion Papers 0621, School of Economics, University of Surrey.
    13. Santos, João & Domingos, Tiago & Sousa, Tânia & St. Aubyn, Miguel, 2016. "Does a small cost share reflect a negligible role for energy in economic production? Testing for aggregate production functions including capital, labor, and useful exergy through a cointegration-base," MPRA Paper 70850, University Library of Munich, Germany.
    14. Ensar Yılmaz & Zeynep Kaplan, 2022. "Heterogeneity of market power: firm-level evidence," Economic Change and Restructuring, Springer, vol. 55(2), pages 1207-1228, May.
    15. MORITA, Hiroshi, 2024. "New Approach to Estimating the Productivity of Public Capital : Evidence from 22 OECD Countries," Discussion paper series HIAS-E-141, Hitotsubashi Institute for Advanced Study, Hitotsubashi University.
    16. Marta Arespa, 2015. "Endogenous Home Bias in Portfolio Diversification and Firms’ Entry," Review of International Economics, Wiley Blackwell, vol. 23(1), pages 14-44, February.
    17. Reino Hjerppe & Pellervo Hämäläinen & Jaakko Kiander & Matti Viren, 2007. "Do government expenditures increase private sector productivity?," International Journal of Social Economics, Emerald Group Publishing Limited, vol. 34(5), pages 345-360, April.
    18. Ward Romp & Jakob De Haan, 2007. "Public Capital and Economic Growth: A Critical Survey," Perspektiven der Wirtschaftspolitik, Verein für Socialpolitik, vol. 8(S1), pages 6-52, April.
    19. Mr. Michael Kumhof & Huixin Bi, 2009. "Jointly Optimal Monetary and Fiscal Policy Rules under Borrowing Constraints," IMF Working Papers 2009/286, International Monetary Fund.
    20. Carmen D. Ã lvarez-Albelo, 2018. "A calibration of the output elasticity of public capital," Economics Bulletin, AccessEcon, vol. 38(2), pages 761-771.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:imf:imfscr:2015/263. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Akshay Modi (email available below). General contact details of provider: https://edirc.repec.org/data/imfffus.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.