Positive Growth Predicted for Rwandan Economy

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Despite current economic turmoil, the Rwandan economy is estimated to experience growth of seven per cent or more over the next three years.

The economy, which experienced a decline back in 2009, is said to have made a rapid recovery with a positive projection being made for future growth.

The economy of Rwanda is expected to remain stable despite the growing problems of neighbouring African countries.

The report, issued by the African Development Bank (ADB), said that the growth and recovery was achieved due to the economy’s focus on agricultural encouragement and development. Agriculture is the main source of income and livelihood for the majority of Rwandan inhabitants and so focusing on this area enabled the country to experience economic growth.

A number of new investments and changes were made to the agricultural sector, such as better trading terms and conditions, increased investment in coffee production and the privatisation of select firms.

All of these were thought to contribute to the growth experienced by the country, leading to the fairly stable economic position it is currently experiencing.

Figures from last year revealed a number of sectors experiencing steady growth for the country, with the industrial sector up by 8.4%, construction up by 10.9% and the export of coffee crops up by 22.5%.

The stabilisation of the Rwandan economy was also seen to be affected by numerous public investment programmes along with a growth in global demand for Rwandan products.

Public investment programmes included such things as providing greater access to electricity, through expanding national grid services, and the construction of an international airport to boost trade by positing Rwanda as a ‘gate-way’ to Eastern and Central Africa.

The report by the ABD suggested that these factors had created the perfect conditions for economic growth, leading to the economies relatively stable condition. It also proposed that these conditions could help the economy to continue growing. This has led to a seven per cent increase being predicted for the next few years.

Transfer Money to Rwanda

If you are looking to invest in Rwanda, think carefully about how you will be transferring money to Rwanda. Foreign currency exchange rates quoted by banks are almost always worse than the exchange rates available through specialist currency dealers.

So if you are sending money to Rwanda – which you will inevitably have to do if you are looking to make a property investment, be sure to compare the market before you buy your overseas currency.

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Positive Growth Predicted for Rwandan Economy

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