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Rwanda Expected to Miss 6.6 Percent Growth Target Mark

Rwanda Expected to Miss 6.6 Percent Growth Target Mark

From Reuters

Rwanda is likely to miss its 2013 economic growth forecast of 6.6 percent after the performance of the service sector fell short of expectations due to the effects of aid cuts the previous year.

The country’s finance ministry said in a document released on Wednesday the outturn for the year was likely to fall below 6 percent.

The landlocked east African nation of about 10 million people suffered from cuts in budgetary support by donors in 2012 after it was accused by the United Nations of backing rebels in the neighbouring Democratic Republic of Congo.

Those cuts caused the government to curb its spending, limiting average growth for the services sector in the first three quarters to 4.6 percent, down from 12.2 percent in all of 2012.

Read more at Reuters