Rwanda’s Economic Drivers Contributed to EA Economic Growth

Published by Dusabemungu Ange De La Victoire
On 7 January 2013 saa 03:45
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The 2012 East African Economic growth was due to different drivers including services in Rwanda and industry in Uganda and Tanzania.

Crop Intensification Programme in Rwanda and Kilimo Kwanza in Tanzania also contributed to the stability of the East African Economies.

According to the East Africa Quarterly Bulletin produced by the African Development Bank, all of the region’s economies experienced strong growth, riding on the back of regional integration efforts of the East African Community (EAC).

Real Gross Domestic Product (GDP) increased by more than 7 per cent during the first quarter in Rwanda and Tanzania and strong performance was also reported for Uganda.

Headline inflation decreased consistently through the second quarter of 2012, an indication of the effectiveness of monetary policies pursued by regulatory authorities in the region.

Uganda posted a positive real GDP growth rate in the first quarter of 2012 following a negative growth in the last quarter of 2011.

Burundi continued to be adversely affected by a series of negative shocks including high inflation, falling public revenue collections, and receding development partner support.