By Collins Mwai
World Bank officials have said that all signs indicate that Rwanda in on course for continued economic growth in 2019, despite global uncertainties occasioned by trade wars.
The economy is projected to grow by 7.8 per cent in 2019 from 8.6 per cent last year.
Yasser El-Gammal, the World Bank Country Manager, said that Rwanda’s medium-term economic outlook is favourable as aspects such as inflation remain low while investments continue to grow.
The Bank, however, called for measures to strengthen private sector capacity to sustain the high growth trajectory in the long-run as opposed to reliance on public investments as is the case now.
“While public investments will continue to support the growth over the medium-term, Rwanda needs to strengthen its private sector to stay on a high growth trajectory in the long-run,” Aghassi Mkrtchyan a senior Economist at The World Bank said.
Rwanda’s performance is further buoyed by the fact that it’s one of only four countries in Sub-Saharan Africa with low debt distress status.
The Bank rates countries’ risk of distress, which is categorized as high, moderate, in-distress, or low.
Aghassi Mkrtchyan, a Senior Economist at the World Bank, said Rwanda maintains a low debt distress through careful borrowing, proper loan management and high economic growth…Read more>>
