Rwanda Forecasts Economy to Expand 6% This Year as Aid Resumes
By Saul Butera
avril 25, 2014 8:03 AM EDT

Rwanda's economy may grow 6 percent this year as the resumption of aid
flows will ensure the government has funds for infrastructure
projects, Finance Ministry Permanent Secretary Kampeta Pitchette
Sayinzoga said.
Expansion slowed to 4.6 percent last year from 7.3 percent in 2012,
Sayinzoga said today in an e-mailed response to questions.
Donors are resuming aid payments after freezing funding pledges over
allegations by an United Nations group of experts in 2012 that the
government backed rebels in the neighboring Democratic Republic of
Congo. President Paul Kagame denies the accusations. The country this
month marked the 20th anniversary of a genocide that saw as many as
800,000 ethnic Tutsis and moderate Hutus killed over 100 days by Hutu
militias.
The agricultural industry in the coffee-producing nation is expected
to have a "strong performance" this year, helping to boost the
economy, Sayinzoga said. The inflation rate is forecast to rise to 5
percent by the end of this year from about 3.6 percent last year amid
currency losses, she said.
The franc may decline 3 percent against the dollar on rising demand by
importers for dollars, she said. The currency has fallen 1.2 percent
against the dollar so far this year, and was trading at 684.02 by 1:31
p.m. in Kigali, the capital.
Rwanda plans to tap international debt markets for a second time,
after raising $400 million in its debut dollar bond last year, once
the government has projects ready to absorb the financing, said
Sayinzoga.
To contact the reporter on this story: Saul Butera in Kigali at
sbutera2@bloomberg.net
To contact the editors responsible for this story: Antony Sguazzin at
asguazzin@bloomberg.net Sarah McGregor, Karl Maier
http://mobile.bloomberg.com/news/2014-04-25/rwanda-forecasts-economy-to-expand-6-this-year-as-aid-resumes.html
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