Kigali – Rwanda’s economic growth is likely to slow to 6.3 per cent in 2016, from an estimated 7 per cent in 2015, the Central Bank Chief said on Thursday.
Governor John Rwangombwa told a news conference in Kigali that the slower rate of expansion was partly due to the effects of El Gino rains.
Rwangombwa said that El Gino rains had caused smaller expansions in the agriculture, construction and services sectors.
“Agriculture has a big hand in that slight reduction from 7 per cent to 6.3 per cent,” he said.[pro_ad_display_adzone id=”70560″]
Rwangombwa said the services sector was expected to expand 7.1 per cent this year, after growing 7.3 per cent in the first three quarters of last year.
He added that the construction sector was also seen slowing compared with last year.
He said inflation was expected to remain within the 4.5 and 5.5 per cent range during the year.
Rwanda’s urban inflation rate, a key indicator for the central bank, was unchanged at 4.5 per cent in January compared with the previous month. (Reuters/NAN)
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