Rwanda's Central Bank Sees 8.1 Pct Growth In 2020
Mohammad Ali (@ChaudhryMAli88) Published February 07, 2020 | 07:14 PM
Rwanda's economy will remain strong throughout 2020, with a predicted gross domestic product (GDP) growth of 8.1 percent, the country's central bank said on Friday
KIGALI, (UrduPoint / Pakistan Point News - 7th Feb, 2020 ):Rwanda's economy will remain strong throughout 2020, with a predicted gross domestic product (GDP) growth of 8.1 percent, the country's central bank said on Friday.
Rwanda's real GDP grew by 10.9 percent on average in the first three quarters of 2019, higher than the 8.3 percent registered in the same period of 2018, governor of the National Bank of Rwanda, John Rwangombwa, told a media briefing in the Rwandan capital, Rwanda.
The briefing followed the bank's quarterly meeting of the monetary policy committee and financial stability committee.
The strong performance continued in the fourth quarter of 2019, as indicated by the composite index of economic activities, with the momentum predicted to remain at an average 8.1 percent in 2020, Rwangombwa said.
He attributed the good performance to construction and service industries, conference tourism, and support by financial institutions. The central bank predicted that annual average headline inflation will remain at 5 percent throughout 2020.
Recent Stories
HEC reviews curricula for environmental sciences degree programme
ICC Asia looking forward to an action-packed Asia Cricket Week
Yuvraj Singh named ICC Men’s T20 World Cup 2024 Ambassador
Greece hands Olympic flame to 2024 Paris Games hosts
Two Kyiv hospitals evacuating over feared Russian strikes
World must act on neurotech revolution, say experts
Charles & Catherine's cancer diagnoses
Champions Alcaraz and Sabalenka through in Madrid Open
King Charles to resume some public duties during cancer treatment: palace
US defense chief announces $6 bn in security aid for Ukraine
Heavy rains cause damage to Spezand-Taftan railway track
Woman stabbed in Israel, attacker killed: police
More Stories From Business
-
Finance minister reviews progress on FBR digitalization
3 hours ago -
US stocks rebound on tech earnings, London hits new record
3 hours ago -
US approves gene therapy treatment for hemophilia
3 hours ago -
KATI president for inclusion of agri sector in tax net
3 hours ago -
Ahsan chairs 13th CPEC-JCC preparatory meeting, reviews arrangements for high-level delegation’s v ..
5 hours ago -
Police to take every step for security of business community: IGP
5 hours ago
-
WB director, Planning minister discuss reforms in development projects
5 hours ago -
IP rights crucial in achieving SDG : Jam Kamal
6 hours ago -
FBR’s data protection efforts commended by OECD assessment team
6 hours ago -
US stocks rebound on tech earnings, London hits new record
7 hours ago -
SECP-IFSB workshop highlights Pakistan's progress in Islamic Finance Development
7 hours ago -
SBP to announce monetary policy on April 29
7 hours ago