BY GERTRUDE MAJYAMBERE
The economic growth rate is likely to increase to 7 per cent, if the trend of economic performance is maintained.
The country growth rates is currently estimated to be at 6.4 per cent.
This was announced by the Economic Planning state minister Monique Nsanzabaganwa
She attributes the improving economic performance to the increasing industrial production, growth of service industry and increasing exports.
Quoting the latest quarterly survey and company’s declarations to the Rwanda Revenue Authority, the minister said there is a general increase in production and selling activities.
The main increase in turnover has been recorded by large enterprises. Manufacturing with 21.5 per cent, commerce 32.6 per cent, construction 58 per cent telecommunication 42.83 per cent and mining with the highest increase of 83.2 per cent.
A statement from the ministry indicates exports increased to 7.08 per cent compared to the same period of 2006. This was spurred by growing minerals and horticulture exports.
However, the agriculture sector underperformed in the first half of 2007. There was a decline of 3.83 per cent compared to 2006. To maintain a steady economic growth, Nsanzabaganwa said the government is targeting to develop the financial sector.
“The role of government is to set policies and laws to facilitate the operations of banks, and the banking law is to be out soon.