World Economy

Rwanda Economy Remains Stable

Rwanda Economy Remains StableRwanda Economy Remains Stable

The economy remained relatively stable in the first half of the year despite turbulence in the global economic arena, Rwanda’s central bank said Friday, NewsNow reported. Presenting the Monetary Policy and Financial Stability statement, central bank governor John Rwangombwa said leading economic indicators, such as turnovers in various sectors, show good economic performance. However, this will be slower compared to that recorded over the same period last year, Rwangombwa said. He said performance was largely driven by the growth in the industry and service sectors that expanded by 11.1%, lower than 13.6% registered in the same period last year. Growth in the industry sector was largely in manufacturing and energy, which inched up by 65.9% and 14.4%, respectively. The expansion of the services sector was driven by good performance of the financial sector; information and communication technology sector, as well as petroleum distribution, and hotels and restaurants.