DR Congo Government To Slash Spending Due To Low Commodity Prices
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DR Congo Government To Slash Spending Due To Low Commodity Prices

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The Democratic Republic of Congo's government is proposing slashing its 2016 budget by 22%. This is because of low global commodity prices that have led to suspension of some mining activities and closure of some businesses. Congo is Africa's leading copper producer but it has been hit by a metals slump that has lowered foreign exchange reserves and heaped pressure on its currency, the franc.

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