Rwanda : Rwanda’s economy will not be affected by Aid cut-offs
Central Bank governor, Ambassodor Claver Gatete has revealed that the UK, Netherlands and US cutting aid to Rwanda will not destabilize the country’s economy.
“The money suspended was only a small part of the budget, so the economy won’t be affected,” said Gatete.
He added that the country’s financial sector has continued to be sound and stable.
The national institute of statistics rated GDP growth for the first semester of this year at 7.7 per cent.
Gatete said that Rwanda has stable sources of income like tourism and diaspora contribution.
He was speaking at the national bank of Rwanda monetary policy conference. The IMF forecasts world economic growth will slow to 3.5 per cent this year compared to last year’s 3.9 per cent.