Rwanda’s growing agriculture and manufacturing sectors could push the country’s growth to 10 percent this year, up from 6 percent last year. Next year’s growth is expected to fall between 6 and 7 percent due to the global financial crisis.
Rwanda has been trying to repair its economy since the 1994 genocide. They have been focusing on farming, tourism, mining, and energy sectors. With this news comes that the Rwandan franc is overvalued by 10 to 15 percent. Inflation is at 21.9 percent, but Rwandan officials expect inflation to it to be in single digits by 2009.
1 comment:
Good for them!
It is interesting, many countries in the developing world are not at all or only a little effected by the current financial crisis sweeping the planet. I guess being out of the loop has it's good aspects as well.
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