Rwanda’s Economy is Growing Thanks to Agriculture

Untitled2
Rwanda’s economy grew by 7 percent in 2014 from 4.6 percent in the previous year, thanks to robust expansion in farming, services and industrial sectors, Finance Minister Claver Gatete said on Tuesday.

The east African nation’s 2013 growth suffered from cuts in budgetary support by donors, after United Nations monitors accused it of backing rebels in the neighboring Democratic Republic of Congo.

Rwanda’s central bank said last March it expected its economy to grow by 6 percent in 2014 and 6.7 percent in 2015 after the loss of foreign aid disrupted growth.

The services sector, including banking, grew 9 percent while the industry sector grew by 6 percent, Gatete said in a statement issued before he was due to hold a news conference on the economic growth figures at the finance ministry.

Agriculture expanded by 5 percent, the minister added in the statement.

The growth rate averaged 8.2 percent from 2006 to 2012 in the landlocked state that has become a favorite with international investors two decades after the 1994 genocide.

Source: CNBC Africa

Still independent.

We hope this story was worth your time. For over 14 years, Atlanta Black Star has stayed Black-owned and independently run. We didn't get here by waiting on ad budgets that were never built to prioritize us. Our readers did that.

Corporate support for Black media has always been thin. Outlets like ours get roughly 1% of the $170 billion spent on U.S. advertising each year, and that margin is shrinking further as advertisers walk back the DEI-linked commitments they made in 2020. That's the backdrop. It's not why we're asking.

The wider picture isn't any steadier. Newspaper ad revenue has fallen more than 80% since 2005, and local newsrooms are closing at a rate of roughly two a week nationwide. When outlets go under, it's rarely the ones built to center a Black perspective from the ground up that get to stick around.

We know a request for support isn't why you came here. But without readers choosing to fund this work directly, the depth of reporting we can do at home and abroad shrinks along with everyone else's. If you're not in a position to give, that doesn't change how much we value you as a reader.

If you are able to, a recurring contribution does more for us than a single one-time gift, because it lets us plan the next investigation instead of just the next invoice. It takes about 30 seconds, no long form, no account. Thank you for continuing to support independent journalism and freedom of the press.

Back to top