Rwanda economy projected to grow at slower pace - finance minister

Rwanda's economy has been forecast to grow at a slightly slower pace this year before picking up speed again in 2024 and 2025. Finance Minister Uzziel Ndagijimana told parliament Wednesday the economy was forecast to grow 6.2% in 2023 and around 7.5% in 2024 and 2025.

Rwanda is a small but growing market, with a population of nearly 13 million people and a GDP of $10.354 billion, according to the World Bank.

Before the COVID-19 pandemic, the east African nation enjoyed strong economic growth, averaging over seven percent GDP growth annually over the last two decades. The economy grew 6.8% in 2022 according to the finance ministry.

Leading sectors in Rwanda include energy, agriculture, trade and hospitality, and financial services.