Finance Minister: Economy Of Rwanda To Grow At Slower Pace

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Rwanda’s economy has been predict to grow at a slightly slower pace this year before picking up speed again in 2024 and 2025. Finance Minister Uzziel Ndagijimana told parliament Wednesday the economy was predict to grow 6.2% in 2023 and around 7.5% in 2024 and 2025.

Rwanda is a small but growing market, with a population of nearly 13 million people and a GDP of $10.354 billion, according to the World Bank.

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Before the COVID-19 pandemic, the east African nation enjoyed strong profitable growth, comprising over seven percent GDP growth annually over the last two decades. The economy grew 6.8% in 2022 according to the finance ministry.

Leading sectors in Rwanda include energy, agriculture, trade and hospitality, and fiscal services.

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