In the early 1980s, rapidly rising oil revenues enabled the government to finance large-scale development projects with GDP growth averaging 5% annually, one of the highest rates in Africa. The government has mortgaged a substantial portion of its petroleum earnings, contributing to a shortage of revenues. January 12, 1994 devaluation of Franc Zone currencies by 50% resulted in inflation of 46% in 1994, but inflation has subsided since.
What did income from petroleum allow the government to fund in the early '80s? What was the Congo's annual increase in gross domestic product in the early '80s? By how much were Franc Zone currencies devalued in January of 1994? How much inflation did the Congo experience as a result of the devaluation of the Franc?