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Rwanda Made A 7% Economic Leap Last Year

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According to Rwanda’s Finance Minister, Claver Gatete, the country has made a notable process in economic growth in the last financial year, Rwanda increase from a 4.6 percent to 7 percent.

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This, the minister said, is attributed to the robust expansion in farming, services and industrial sectors.

The east African nation’s 2013 growth suffered from cuts in budgetary support by donors, after United Nations monitors accused it of backing rebels in the neighboring Democratic Republic of Congo.

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The Central Bank of Rwanda had reported that last year in March (2013 financial year) expected a 6 percent groth in 2014 and a 6.7 percent 6.7 percent in 2015 after the loss of foreign aid disrupted growth.

Gatete said that the services sector, including banking, grew 9 percent while the industry sector grew by 6 percent and Agriculture expanded by 5 percent.

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The growth rate averaged 8.2 percent from 2006 to 2012 in the landlocked state that has become a favorite with international investors two decades after the 1994 genocide.

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Caroline Vutagwa
Caroline Vutagwahttps://my.techmoran.com
Minding my own business is not enough for me that's why you will always find me minding Africa's Businesses as well as Technology and of course letting you know about it. Talk to me on [email protected]

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