The Poorest Countries in the World

1. Democratic Republic of Congo

2. 2016 GDP per Capita: USD 441 2018 GDP per Capita (projected): USD 468 2022 GDP per Capita (projected): USD 632

3. Although the DRC has abundant natural resources, unfortunately with a projected 2018 GDP per capita of USD 468, the country is in the unenviably position of being the poorest country in the world. There has been severe political unrest in recent years, as calls for President Joseph Kabila, who took power after the assassination of his father in 2001, have reached a fever pitch. Kabila was reelected in 2011 in a controversial election and has since postponed elections several times with the latest date set for December 2018.

4. Parliament approved a highly controversial mining code on 24 January, which had been under discussion for years. The bill, which has yet to be signed by President Kabila, envisages increasing royalties from mineral products including copper and cobalt. It has sparked fears that business profit margins could be eroded, stifling investment in the sector. This would likely dent the country’s ongoing economic recovery from the 2016 slump, which has been propelled by higher commodity prices since the second half of 2017. Major players, including the United States and France, have recently stepped up pressure on the president to leave office and refrain from running in the delayed presidential elections to avoid an escalation in political tensions.

5. Higher prices for commodities should propel economic growth in the DRC, although it will remain constrained by uncertainty around the mining code and the upcoming presidential elections. FocusEconomics panelists forecast growth of 3.0% in 2018 and for 2019, growth is seen reaching 3.4%.