2nd October, 2018
Rwanda’s economic growth continues to be strong as its gross domestic product (GDP) rises 8.6 per cent in the first half of 2018, the International Monetary Fund (IMF) said on Tuesday.
Laure Redifer, IMF Rwanda mission chief, in Kigali, capital city of Rwanda, said.
“After rising to 6.1 per cent in 2017, the real GDP growth (of Rwanda) averaged 8.6 per cent in the first half of 2018, consistent with the projected end-year growth rate of 7.2 percent in 2018,’’ said Redifer.
Supported by continued export diversification base and public investment, the country’s medium-term macroeconomic outlook remains favorable and real GDP growth remains strong, Redifer said.
Redifer told a news conference after IMF staff completed discussions with several Rwandan government institutions on the 10th and final review of Rwanda’s macroeconomic programme supported by the IMF Policy Support Instrument.
Private-sector investment and more resilient agriculture due to extensive agriculture irrigation favour the strong performance of the Rwanda’s economy, she added.
With export growth of 17.9 per cent in the year to August 2018 and import growth of 7.4 per cent, the trade balance has continued to improve, Redifer said.
He added that the robust growth in 2018 reflects strong industrial activity, notably construction.
She also said that the inflation rate is expected to remain within the central bank’s target range.