About CountryRwanda is a landlocked country in Central Africa with a land size of 26,338 sq.km. Rwanda has made remarkable progress, peace and political stability have been re-established, reconciliation efforts are continuing, and democratic institutions and processes are being strengthened. Poverty and social indicators have also improved. Rwanda has been able to maintain overall macroeconomic stability and implement extensive reforms which have contributed to a strong growth performance.
Rwanda’s economy has remained on a strong growth path. In the last five years, overall economic growth has averaged at 8 per annum. The Rwandan economy recorded GDP growth of 7.0% in 2014, driven by strong growth in the services, agricultural and industry sectors.
Parallel efforts have been made to put in place a sound economic governance framework, including independent regulatory agencies, stronger public expenditure management systems with independent audit agencies, and a strong focus on anti-corruption.
Rwanda joined the East African Community (EAC) on July 1st, 2007. Rwanda is also a member of the Nile Basin Initiative, the Common Market for Eastern and Southern Africa (COMESA), and the Economic Community for the Great Lake Countries (CEPGL).
Major international credit rating agencies such as Fitch ratings and S&P have revised Rwanda’s long term credit outlook upwards from B to B+, the upward revision was attributed to the government’s ability to access capital markets and reducing risks to external financing due to stable donor flows. The country has long term vision to substantially grow the local and foreign investments to reach 30% of GDP and to become a middle income country by 2020.
Source: Rwanda Development Board (RDB)