When the Rwanda National Congress-RNC terror group’s lose-tongued mouthpiece Murunganwa alias Himbara talks about economic trends in Rwanda, one tends to think that Rwanda is an isolated island operating on its own globe.
The failed “Professor of Economics” rules out the impact of the current global economic constraints which include the deadly Covid-19 pandemic and the ongoing Ukraine-Russia war. The two crises have negatively impacted the world economies. For instance, there is a disruption of global supply chain leading to a substantial increase in international commodity prices which affected the energy, transport, oil and food supplies.
It’s obvious that Rwanda as a country was also affected by these trends, however the country deployed sound policies and strategies to contain the crisis hence registering a 7.9%, 7.5% growth in the first and second quarter of 2022 respectively.
The World Bank Report- Rwanda Economic Update of September, 2022 classifies Rwanda amongst the fast-growing economies in the world despite prevalent economic constraints bedeviled by the Covid-19 pandemic as well as the Russia’s invasion to Ukraine.
Defying all odds. Rwanda has registered a strong growth in its economy with a record increase in her Growth Domestic Product-GDP with 7.9% in the first quarter of 2022 while the second quarter registered 7.5% which is estimated at Frw 3,279 billion (US$3,097million). The sectors that RNC stooge Himbarara claims to be struggling have strongly contributed to the economic growth, they include Agriculture, Industry, Services and Taxes.
Furthermore, when you look at the country’s Balance of Payments, you notice a skyrocketing increase in the exports where export crops such as coffee, tea largely contributed to the exportation which grew by 37%. The Export Receipt accounts for $708.3 million in the first six months of 2022.
The Rwandan government’s subsidies on fertilizers have had a significant impact on the agriculture, food production, livestock and fisheries, they all increased by 6.7%, 8.5%, 26% respectively. Mining and quarrying also grew by 9%, the country reaps big from cassiterite, wolfram and coltan exports owing to the increase of prices on the international markets.
To be continued…