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New World Bank report names Rwanda among most resilient economies

Rwanda

<p><strong>Rwanda and six other African countries have exhibited economic resilience in recent past that saw them post annual growth rate above 5.4 per cent in 2015-2017, this is according to a new World Bank report released on Wednesday.</strong></p> <p>According to the latest Africa’s Pulse, a bi-annual analysis of the state of African economies conducted by the Wor ld Bank, the six others countries include Ivory Coast, Ethiopia, Kenya, Mali, Senegal and Tanzania.</p> <p>The World Bank said, these countries economies, registered upswing in economic performance partly on account of strong domestic demand. </p> <p>Adding that the countries house nearly 27% of the region’s population and account for 13% of the region’s total <span class="caps">GDP</span>.<br /> Rwanda’s economy grew by 5.9 per cent in 2016, according to figures from the National Institute of Statistics of Rwanda (<span class="caps">NISR</span>)..Economic growth in Sub-Saharan Africa is rebounding in 2017 after registering the worst decline in more than two decades in 2016, the Bank said.</p> <p>“The region is showing signs of recovery, and regional growth is projected to reach 2.6% in 2017. However, the recovery remains weak, with growth expected to rise only slightly above population growth, a pace that hampers efforts to boost employment and reduce poverty,” the WB said.</p> <p>Nigeria, South Africa, and Angola, the continent’s largest economies, are seeing a rebound from the sharp slowdown in 2016, but the recovery has been slow due to insufficient adjustment to low commodity prices and policy uncertainty, it added.</p> <p>Furthermore, the WB says, several oil exporters in the Central African Economic and Monetary Community (<span class="caps">CEMAC</span>) are facing economic difficulties.</p>

The region is showing signs of recovery, and regional growth is projected to reach 2.6% in 2017. However, the recovery remains weak.

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