Rwanda:
Ranked High As IMF Lowers Growth Rate
The world Bank through its report, Africa's Pulse has ranked Rwanda among the fastest growing economies, whilst International Monetary Fund-IMF has lowered its growth rate for this year to 7.5 percent from 8 percent realised in 2012.
The country comes after the resource rich countries of Ghana, Nigeria, Mozambique and other countries like Ethiopia which were able to post growth rates of 7 percent in 2011. "But as this issue of Africa's Pulse shows, African economies continue to show resilience and some of the fastest-growing economies in the world are now in Africa," said Obiageli Ezekwesili, The banks' Vice President for Africa Over a third of countries in the region attained growth rates of at least 6 percent, with another 40 percent growing between 4 - 6 percent apart from the continent's giant, South Africa the rest of Africa made a growth o of 5.9 percent.
The Africa- Pulse published twice a year by World Bank looks at concerns shaping Africa's economic prospects and monitors the continent's growth trends. Experts say that country's like Rwanda have achieved high growth due to their efforts to foster economic reforms, keeping the economy afloat and also enhancing doing business environment which attracted more Investments.
"We are giving smart incentives, incentives that actually promote real production and attract investors to come," Clare Akamanzi, acting Chief Executive Officer,Rwanda Development Board said earlier "The urgent agenda remains sustaining the macroeconomic reforms while accelerating the structural reforms that will deliver the right quality of growth that creates jobs and raises incomes on the continent,"advised Ezekwesili Nevertheless, Rwanda's growth is projected to grow at 7.5 percent this year from 8 percent last year which is expected to weaken the country's economic outlook, a mission from the International Monetary Fund has revealed.
Ranked High As IMF Lowers Growth Rate
The world Bank through its report, Africa's Pulse has ranked Rwanda among the fastest growing economies, whilst International Monetary Fund-IMF has lowered its growth rate for this year to 7.5 percent from 8 percent realised in 2012.
The country comes after the resource rich countries of Ghana, Nigeria, Mozambique and other countries like Ethiopia which were able to post growth rates of 7 percent in 2011. "But as this issue of Africa's Pulse shows, African economies continue to show resilience and some of the fastest-growing economies in the world are now in Africa," said Obiageli Ezekwesili, The banks' Vice President for Africa Over a third of countries in the region attained growth rates of at least 6 percent, with another 40 percent growing between 4 - 6 percent apart from the continent's giant, South Africa the rest of Africa made a growth o of 5.9 percent.
The Africa- Pulse published twice a year by World Bank looks at concerns shaping Africa's economic prospects and monitors the continent's growth trends. Experts say that country's like Rwanda have achieved high growth due to their efforts to foster economic reforms, keeping the economy afloat and also enhancing doing business environment which attracted more Investments.
"We are giving smart incentives, incentives that actually promote real production and attract investors to come," Clare Akamanzi, acting Chief Executive Officer,Rwanda Development Board said earlier "The urgent agenda remains sustaining the macroeconomic reforms while accelerating the structural reforms that will deliver the right quality of growth that creates jobs and raises incomes on the continent,"advised Ezekwesili Nevertheless, Rwanda's growth is projected to grow at 7.5 percent this year from 8 percent last year which is expected to weaken the country's economic outlook, a mission from the International Monetary Fund has revealed.
Source: AllAFrica.Com
