Gatete confident on economic rebound

By IGIHE
On 26 September 2017 at 10:26

The Finance Minister Claver Gatete says he is expecting an improvement in economic performance in the rest of the year despite slowed growth to 4 percent year-on-year in the second quarter of 2017.

The figure was almost half the 7.5 percent reported by National Institute of Statistics of Rwanda (NISR) for the same period in 2016.

Wholesale and retail trade contracted by 6 percent, while agriculture expanded by 6 percent, the NISR said in a statement.

Claver Gatete said he expected the third and fourth quarters to perform better than the first two, supported by stronger activity in construction, services and agriculture.

"There is a clear improvement and for the next two quarters we are going back to normal high growth," Gatete said.

A new GDP projection for 2017 will be issued around October after a meeting with a team from the International Monetary Fund, Gatete said. The current growth forecast for the year is 6.2 percent.

The central bank’s repo rate-setting body is due to meet on Wednesday.


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