Congo PM proposes deep budget cuts, warning of hyperinflation


  • World
  • Tuesday, 17 May 2016

KINSHASA (Reuters) - Democratic Republic of Congo's prime minister proposed cutting operating costs of government ministries and other public services by 30 percent on Monday, warning of a risk of hyperinflation if the government failed to act.

The government announced earlier this month that it would propose a 22 percent reduction to its initial 8.48 trillion Congolese franc (£6.3 billion) budget for the year, largely because of low global metals prices.

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