Written by Wesley Cate on September 1, 2014
Reuters reported on Thursday that the World Bank cut Rwanda’s 2014 growth forecast from 7.2 percent to 5.2 percent. The cut is due to slow spending on energy and transport as well as a slowdown on private sector credit.
“Investment in energy and transport would spur the private sector and attract foreign direct investment, and help transform the economy into a net exporter,” the Bank said.
According to the news service, Rwanda’s growth rate averaged 8.2 percent from 2006 to 2012 in a country hailed by investors for solid fundamentals, including low debt and inflation.