Rwanda’s economy recovered from a slowdown experienced in 2013 and recorded a growth rate of 7.8 percent in the fourth quarter of 2014 from 6.1 percent experienced in the first quarter of the same year, reports said on Tuesday.
The impressive performance was attributed to an increase in financing by the banking sector as result of accommodative monetary policy implemented by the central bank.
Speaking to hundreds of public and private economy actors on Tuesday, the Governor of National Bank of Rwanda, John Rwangombwa, reiterated that the economy is evolving toward surpassing projected growth.
“High economic growth was achieved with low and stable inflation on the account of sustained and well-coordinated monetary and fiscal policies coupled with limited inflationary pressures from trading partners and easing international commodity prices especially oil prices,” Rwangombwa said.
“Total turnovers of industry and services sectors increased by 12.7 percent in the last quarter of 2014 from 9 percent recorded in the third quarter, while the rate of economic activities skyrocketed to 12.5 percent from 2.9 percent,” Rwangombwa added.
Star Africa
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