World Bank cuts 2014 growth projections

Rwanda’s economy will grow at a rate of 5.7 percent this year, up from 4.6 percent the previous one. This however is slower than the 6 percent that the Government projected in its annual budget.

Rwanda’s economy will grow at a rate of 5.7 percent this year, up from 4.6 percent the previous one. This however is slower than the 6 percent that the Government projected in its annual budget.

This is according to the World Bank’s economic update report presented today.

“The lagged effect of the aid shortfall to the economy was extended to the second half of 2013 decelerating both public and private sector activities. However, signs of recovery are evident in 2014,” says Toru Nishiuchi a World Bank economist and co-author of the report on Rwanda’s economic outlook.

More details in tomorrow’s The New Times...