ABN - Rwanda’s central bank governor expects the economy to grow at a rate of 6.5% this year, helped by good climate conditions in the agriculture-dominated East African country.
John Rwangombwa of the Rwandan central bank revealed the economic growth rate of 2018 is likely to outpace the projected 5.2% growth of last year.
“This year we expect to perform much better than last year. For Rwanda, we project growth of 6.5%,” he said in a monetary policy and financial stability statement.
“In Rwanda we all see better climate conditions this year that will impact positively on our economic performance.”
According to the national statistics body, roughly 70% of Rwandans are farmers producing crops such as maize and vegetables for the domestic food market and tea and coffee for export.
Inflation is expected to be around 5% in 2018, slightly up from 4.9% last year.