Rwandan Economy Grew by 4 per cent in second quarter of 2017

Finance and Economic Planning Minister Claver Gatete (R) chats to Yusuf Murangwa, the DG of the National Institute of Statistics of Rwanda during the presentation of the report on GDP performance in the Second Quarter of the year at Minecofin offices yesterday. (Nadege Imbabazi)

The Rwandan economy grew by 4 per cent in the second quarter of this year largely driven by agriculture and services sector.

In the second quarter of the period between April and June, GDP at current market prices was estimated at Rwf1,869 billion up from 1,636 billion in the same quarter last year.

The economy bounced back from a 1.7 per cent growth in the first quarter which had earlier caused concerns on the feasibility of the projected 6.2 per cent growth for 2017.

The agriculture sector grew by 6 per cent owing to good harvest season while the services sector grew by 7 per cent largely due to hotels and restaurants subsector which grew by 9 per cent.

The industry sector maintained sluggish growth of 1 per cent largely due to the decrease of construction activities by 4 per cent.

According to Finance and Economic Planning, Claver Gatate there is all reason to maintain optimism on the projected growth of 6.2 per cent going by the performance of a majority of sectors at the moment.

He however said that they will be meeting with the International Monetary Fund next month to review and decide whether to revise the projection.

This post first appeared HERE

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