Rwanda’s economy has sustained a steady growth momentum since the second half of 2017 through the first half of 2018 and is expected to grow by 7.2% in 2018, according to the 13th Edition of the World Bank Rwanda Economic Update launched yesterday.
The report says the growth will be supported by improved agriculture which expanded by 7.6% in the first half of 2018 after recovering from recent draughts; strong traditional and nontraditional exports, as well as from the resumption of construction activities.
The Rwanda Economic Update also noted improvement in macroeconomic policy environment in 2018.
In the 12 months ending in September 2018, headline inflation was at 1.6% and the lowest in East Africa, having dropped from its peak of 7.9% in February 2017.
Exchange rate remained relatively stable during the same period.
“While growth momentum continues and the economy will be able to grow between 7 and 8 percent in the medium term, sustaining a high growth rate in the long-run will require large investments in the human capital and more proactive private sector” says Aghassi Mkrtchyan, World Bank Senior Economist.
In its special focus on basic education: Schooling for Learning: Strengthening Resilience of Education in Rwanda, the report takes stock of status and progress of basic education and identifies priorities for delivering better results in the context of Rwanda’s aspirations to be an upper-middle-income by 2035.