(Ecofin Agency) - Rwanda’s economy is expected to grow by 5.1% this year after the decline at 3.4% a year before. The figure is reported by the Minister of Finance, Richard Tushabe (pictured), during the presentation to Parliament of the draft budget for FY2021-22.

According to the official, this economic recovery will be gradual and is expected to reach 7% in 2022, before stabilizing with an average of 7.8% in 2023 and 2024. The minister said that "this growth projection reflects the actions already in place or to be put in place by the government to mitigate the economic impact of covid-19, by providing support to vulnerable households and stimulating employment while supporting private sector investment.

Due to the Covid-19 pandemic, Rwanda had put in place a stringent restriction policy. Between the lockdown measures and the closure of borders, schools and businesses, the country recorded a slowdown in economic activity. The decision taken in March 2021 to loosen  the measures, which were sometimes considered drastic, has made it possible to envisage a revival of the economy.

In FY2021-22, the government will mainly focus on health, education, agricultural production, social protection and support for businesses.

Carine Sossoukpè (intern)