Rwanda’s economy grows at 9.4 %

Sep 27, 2012 12:00 AM

Rwanda's economy expanded by 9.4 % in its fiscal year ended June from 7.4 % previously, thanks to robust growth across all sectors, its statistics office said.
Like other countries in the sub Saharan region, the landlocked central African nation has recorded robust economic growth rates in recent years, on the back of increased investments and consumption.

The farming sector grew by 6 % during the period thanks to increased food production, which rose by 7 %, the National Institute of Statistics said.
Industry expanded by 12 % on the back of a jump in mineral exports, manufacturing and construction.
Electricity, gas and water also increased by 19 %.

The government said the services sector expanded by 12 %, buoyed by wholesale and retail trade, as well as finance and insurance.
Rwanda was the only country in east Africa that did not suffer last year from soaring inflation and steep currency weakening, faring better than its larger neighbour Uganda.

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