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Rwandan growth could reach 10%

Rwanda's booming manufacturing and farming sectors could push growth in the country to 10% this year, according to the Rwandan central bank governor.Agriculture is particularly strong and is growing at a minimum rate of 10%, said Francois Kanimba.

But Rwanda's growth rate is likely to fall to 6-7% next year because of the global financial crises.Several African countries are feeling the fallout of the financial crisis and are readjusting their growth forecasts.

"The current assumption we have [for 2009] is a growth rate of 6-7%, not more," Mr Kanimba told Reuters news agency.

He also said that the drop in commodity prices, a slowdown in the growth of manufacturing and services and a decrease in the amount of remittances Rwanda received would contribute to the lower figure.

Source of this news is from bbc website  www.bbc.co.uk

Posted on Thursday 20th November 2008

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