Rwanda’s economy is projected to grow at 6.5 per cent this year from 5.2 per cent in 2017 due to favourable climatic conditions, John Rwangombwa, the Governor of the National Bank of Rwanda (BNR) has revealed.
During presentation of the monetary policy and financial stability statement at Kigali Serena Hotel on Tuesday, Rwangombwa said that Rwanda’s economic performance is expected to perform better than last year.
“Better climatic conditions will reflect positively on our economic performance in general,” the governor said, attributing last year’s poor performance of the economy on weather conditions that affected the whole East African region.
Having commodities as the main exports for Rwanda, the central bank governor says there is a good trend in commodity prices that have improved since last year with positive impact on the country’s exports. The commodity prices which were lower in 2015 and 2016 are expected to pick from last year and continue positively during the course of this year.