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Rwanda’s Finance Minister Updates Parliament On Status Of Economy

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Uzziel Ndagijimana, Rwanda’s Minister of Finance and Economic Planning is currently in the August house presenting on the status of the economy and budget in the first quarter of FY2020/21.

Economics enthusiasts will be waiting keenly on the Ministers submissions before the Parliament this afternoon.

Quite interesting is the factor of Covid-19 pandemic on the performance of the economy in this first quarter.

Previously in May, the Finance Ministry had projected that Rwanda’s economy would grow by 2.0 percent in 2020, 6.3 percent in 2021, and 8.0 percent in 2022. This projection reflected the economic impact of the Covid-19  outbreak.

However, before the onset of Covid-19 , the economy grew by 9.4 percent in 2019.

The Finance Ministry was also optimistic then that Rwanda would be one of the few countries globally to register a positive growth this year- this reflects the actions already in place or that will be put in place by Government to mitigate the economic impact of Covid-19: fiscal policy, monetary policy and sector specific policies.

More will be captured in the figures presented by Minister Ndagijimana.

It should also be remembered that in the statistics released this November by the National Institute of Statistics of Rwanda, the Consumer Price Index (CPI)increased by 9.3 percent on annual basis and was stable on monthly basis.

 

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