MINECOFIN

MINISTRY OF FINANCE AND ECONOMIC PLANNING

REPUBLIC OF RWANDA

Economy expected to attain projected growth

Posted on 26.09.2017

The Minister of Finance and Economic Planning Claver Gatete has expressed confidence that the economy would attain the projected 6.2% growth as a result of positive trends across various sectors.

 “We expect quarter three and four to perform better mainly from the boom in the construction sector as well as the changing landscape in the manufacturing industry driven by made in Rwanda,” Minister Gatete said.  He noted that the ongoing construction works at Bugesera airport as well as several roads across the country would spur growth in the sector.

Minister Gatete further noted that key drivers of growth in the remaining half of the year include services sector driven by hotels and conferences, financial services, ICT sector and real estate

According to figures released by the National Institute of Statistics of Rwanda, the economy grew by 4% in the second quarter largely driven by agriculture. The agriculture sector grew by 6% as a result of good harvests of food crops in season A of 4% and 22% increase in export crops.

The industry sector registered 1% growth which was attributed to 4% decrease in construction activities compared to the second quarter of 2016. On the other hand manufacturing activities increased by 6% boosted by food processing activities and manufacturing of chemicals, rubber, and plastics which grew by 10% and 28% respectively.

In the service sector, hotels and restaurants grew by 9% maintaining positive developments in conference tourism. Administrative and support service activities increased by 20%, professional, scientific and technical activities increased by 21% while public administration increased by 10%. Wholesale and retail trade decreased by 6% due to overall reduction of imported products.


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