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Congo Republic is on track to be Africa’s fastest growing economy this year, but should control its investment spending, in part because key oil revenues are consistently coming in below expectations, the International Monetary Fund said.

The IMF trimmed Congo’s 2010 growth forecast to 10.6 percent from 12.1 percent and boosted its 2011 growth forecast to 8.7 percent from 6.6 percent, as increases in oil production have taken longer than anticipated.

“Developments in the international markets have been overall favourable for oil exporters like Republic of Congo,” the IMF’s resident representative, Oscar Melhado, told Reuters in an interview.

“However, oil revenues received are systematically lower than projected. This is an issue of concern,” he said.