Rwanda economy grows 9.4 pct in 2011/12 fiscal

(Reuters) – Rwanda’s economy expanded by 9.4 percent in its fiscal year ended June from 7.4 percent previously, thanks to robust growth across all sectors, its statistics office said on Thursday.

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 percent during the period thanks to increased food production, which rose by 7 percent, the National Institute of Statistics said.

Industry expanded by 12 percent on the back of a jump in mineral exports, manufacturing and construction.

Electricity, gas and water also increased by 19 percent.

The government said the services sector expanded by 12 percent, 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. (Reporting by Jenny Clover; Writing by Duncan Miriri; Editing by James Macharia)

Advertisements
%d bloggers like this: