{{Rwanda\u2019s economy should grow by 7.6% this year from an estimated 7.7% in 2012, but lower aid disbursements and a tough global economic environment could erode this, the International Monetary Fund (IMF) said.}}<\/p>\n
Donors froze aid worth $240m in the second half of 2012 \u2014 roughly 11% of the country\u2019s budget, the government said in December. <\/p>\n
The aid was suspended over Rwanda\u2019s alleged support for rebels in the Democratic Republic of Congo, an accusation Rwanda has repeatedly rejected.<\/p>\n
“Growth is expected to be sustained at 7.6% in 2013, driven by an expansion in services and construction, and to stabilise at around 7% over the medium term,” the IMF said in a statement on Tuesday.<\/p>\n
“Risks to the outlook arise mainly from possible cutbacks in aid and a more challenging global environment. Staff estimates indicate that a prolonged delay in the delivery of budget support could lower growth in 2013 by 1.5% points and possibly more, depending on the magnitude of second round effects,” the IMF said.<\/p>\n
Rwanda\u2019s central bank said in February it expected economic growth of 7.1% this year, from a previous forecast of 8%, while in December the then finance minister John Rwangombwa said economic growth could slow to as low as 6% this year as a result of the aid freeze.<\/p>\n
The IMF expected inflation to converge towards the government\u2019s medium term target of 5%. <\/p>\n
Urban inflation slowed to 4.79% in February from 5.67% a month earlier.<\/p>\n
Reuters<\/p>\n","protected":false},"excerpt":{"rendered":"
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