Rwanda | Rwanda scoops continental top-ten ranking in growth performance

Rwanda has been ranked by the African Economic Outlook among top ten growth performers last year.

The AEO 2012 report indicates – in no specific order – Rwanda, Ghana, Ethiopia, Nigeria, Mozambique, Liberia, Zambia Equatorial Guinea, Zimbabwe and Botswana as Africa’s top-ten performers of 2011.

This was revealed in Arusha, Tanzania during a session of the 2012 AEO report launch and press briefing which is part of the African Development Bank (AfDB) annual meetings.

According to Prof. Mthuli Ncube, Chief Economist and a Vice President of the African Development Bank, Rwanda focused on skills development and managed to control its macroeconomic sector, a move that contributed to low inflation rates and stable prices.

The economy is projected to grow by 7.7 per cent this year, lower than last year where it grew by 8.6%. The target remains at 11.5%, which would signal attainment of the vaunted middle income status.