Wednesday 03, October 2018 by Bloomberg

Rwanda's first-half GDP growth accelerated to 8.6 per cent

 

Rwanda’s economy expanded by 8.6 per cent in the first six months of 2018 after growing 2.8 per cent a year earlier, following “strong” growth in construction, the International Monetary Fund said.

The Washington-based lender maintained its outlook for overall growth this year at 7.2 per cent, mission head Laura Redifer told reporters in the Rwandan capital, Kigali.

The construction of Bugesera airport and a pickup in foreign investment will fuel imports and lead to a rise in the trade deficit this year, Redifer said. Rwanda’s external buffers remain strong with export growth of 18 per cent in the year to August and imports climbing 7.4 per cent, the IMF said in statement.

Rwanda and IMF will negotiate for a new support programme next year as the current one expires in December, Redifer said.

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