Rwanda will be one of the top 10 fastest-growing economies in the world this year even as it braves challenges presented by aid cuts.
Last year, Germany, the US, Britain and the EU suspended part of their budget support for this year over allegation that the country was helping M23 rebels in the DR Congo
The Economist, in its latest report on global economic trends for 2013, indicated that Rwanda’s economy would grow at 7.8 per cent this year, making the country the ninth fastest-growing economy in the world and the second-best in sub-Saharan Africa.
In the global ranking of what it terms as ‘the top growers’, the paper has Mongolia, with a projected growth rate of 18.1 per cent, on top of the list followed by Macau at 13.5 per cent. Libya leads in Africa at 12.2 per cent. In sub-Saharan Africa, Mozambique is projected to register the highest growth at 8.2 per cent, with Rwanda, which is seen growing; at 7.8 per cent, on its heels.
This projection echoes that of the economic planners at the Ministry of Finance and Economic Planning.