In-Depth Analysis
Rwanda
Good governance has been key in Rwanda’s recent success, with accountable political institutions and inclusive economic institutions creating an environment in which a thriving private sector can develop. The country boasts a strong GDP growth outlook, with a large and growing services sector.
The past quarter has seen an upward adjustment in our short-term economic growth forecasts and a revision to narrow our current account deficit projections. A marked recovery in the agricultural sector has been a key driver behind Rwanda’s strong economic performance. The monetary environment remains stable, with the central bank maintaining an accommodative policy stance while inflation is trending at comfortable levels. It should be noted that salient economic fragilities persist in the form of fluctuations in donor support, adverse weather conditions, and the potential of regional conflict spilling over into Rwanda. Meanwhile, recent positive signals of the political space opening up should not be taken at face value. (Source: Rwanda Quarterly Update, published December 2018.)
Macroeconomic Data
(2018)
|
Fiscal Balance (as a % of GDP) |
-3.7 |
|
Consumer Price Index (% change y-o-y, avg) |
1.5 |
|
Current Account Balance (as a % of GDP) |
-6.1 |
|
Real GDP (annual % change) |
7.8 |
|
GDP per Capita, US$ |
772 |
|
Import Cover (months) |
4.5 |
|
Population, million |
12.5 |
| Total External Debt (as a % of GDP) |
38.2 |