Rwanda
Good governance has been key in Rwanda’s recent success, with accountable political institutions and inclusive economic institutions creating an environment conducive to the development of a vibrant private sector. The country boasts a strong GDP growth outlook, and the government is intent on developing Rwanda into a services-based economy over the medium to long term.
The stronger-than-expected 8.6% real GDP expansion in 2018 was driven by robust growth in agriculture, industry, as well as services. Real GDP growth is expected to ease to 7.2% this year, driven by a slight slowdown in industrial sector growth following a remarkable 10.2% expansion in 2018. Meanwhile, the conclusion of Vision 2020 will add an element of urgency with regard to development spending during the remainder of the current fiscal year and in FY 2019/20. Fiscal balances are expected to weaken accordingly. (Source: Rwanda Annual Country Profile, published June 2019.)
Macroeconomic Data
(2018)
|
Fiscal Balance (as a % of GDP) |
-2.5 |
|
Consumer Price Index (% change y-o-y, avg) |
1.4 |
|
Current Account Balance (as a % of GDP) |
-6.3 |
|
Real GDP (annual % change) |
8.6 |
|
GDP per Capita, US$ |
777.7 |
|
Import Cover (months) |
3.7 |
|
Population, million |
12.5 |
| Total External Debt (as a % of GDP) |
37.9 |