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 conducive to the development of a vibrant private sector. The country boasts a strong GDP growth outlook and is among the fastest-growing economies in Africa.
The Rwandan economy roared higher during the third quarter of 2019, recording another stellar real GDP growth rate of 11.9% y-o-y. As a whole, the East African economy has grown at an average rate of 10.9% y-o-y during the first three quarters of 2019. These upbeat growth figures suggest that Rwanda was the fastest-growing economy in Africa in 2019 and may very well round the year off with double-digit growth of 10.2%. Although growth is expected to moderate to 7.8% this year, the economic outlook remains optimistic. (Source: Rwanda Quarterly Update, published February 2020.)
Macroeconomic Data
(2019)
|
Fiscal Balance (as a % of GDP) |
-5.4 |
|
Consumer Price Index (% change y-o-y, avg) |
3.4 |
|
Current Account Balance (as a % of GDP) |
-8.8 |
|
Real GDP (annual % change) |
10.2 |
|
GDP per Capita, US$ |
818.4 |
|
Import Cover (months) |
4.0 |
|
Population, million |
12.6 |
| Total External Debt (as a % of GDP) |
57.4 |