The Government of the Republic of Congo and the African Development Bank Group (AfDB) have signed a $602,000 grant agreement to support the rebasing of the country’s national accounts, a key step towards modernising economic statistics and strengthening fiscal transparency.
The agreement was signed on 4 August in Brazzaville by the Minister of the Economy, Planning and Regional Integration, Ludovic Ngatse, who is also the Bank’s Governor for Congo, and Leandre Bassole, Director General for Central Africa at the African Development Bank Group. Funding is provided through 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, adopting the 2008 System of National Accounts (SNA 2008) in line with international standards. It will also prepare for the transition to SNA 2025, recently adopted by the United Nations, which incorporates new measures such as environmental goods and services in the assessment of national wealth. This is particularly relevant for Congo, a resource-rich country.
The updated base year will reflect previously underrepresented sectors including 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,” Minister Ngatse said. “The debt ratio may fall significantly, and some macroeconomic indicators will improve, enhancing our country's transparency and credibility with technical and financial partners. The rebasing also offers a powerful lever for improving our risk profile and mobilising more resources for development."
A significant upward revision of the country’s nominal GDP is expected, which would reduce the debt-to-GDP and deficit-to-GDP ratios—key indicators used to assess debt sustainability. More accurate economic data will strengthen Congo’s risk profile in international financial markets, potentially opening access to financing on more favourable terms.
"Credible economic data is essential for steering and implementing effective public policies,” said Bassole. “This recalibration will make it possible to anchor Congo's economic decisions in the current reality of its economy, strengthen economic governance, improve the country's visibility on markets, and enable better integration of sustainability and environmental criteria into wealth measurement."
The project will run for 18 months under Congo’s National Statistics Development Strategy (SNDS II 2022-2026), which aims to produce reliable, timely, and disaggregated data to guide public policy and promote inclusive development.
This grant highlights the African Development Bank’s commitment to making robust statistical systems central to economic governance, budget transparency, and monitoring of the Sustainable Development Goals. It aligns with the Bank’s Ten-Year Strategy 2024-2033 and the African Union’s Agenda 2063.
It’s great to see the Republic of Congo and AfDB signing a \$602,000 grant to rebase national accounts. Accurate data is key for planning, especially in areas like construction financing. With better accounts, the country can track projects, allocate resources wisely, and boost transparency in construction financing decisions.
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