Rwanda has to maintain peace for development-says Fitch Ratings
The Fitch Ratings report has predicted that Rwanda has to maintain peace and stability and success succession plans in the country’s leadership in order for Rwanda to cushion the effects of the world economic crunch and perform well economically.
Fitch Ratings says that political stability should prevail and President Paul Kagame’s rule and the sense of stability highlight the importance of an orderly succession after 2017.
Under the Kagame’s rule Rwanda has witnessed tremendous transformation after the country was destroyed during 1994 genocide against the Tutsi. The country has witness continued rapid and inclusive real GDP growth, at 8% in 2012 and 8.3% on average since 2005 and at least 1million Rwandans have moved above the poverty line.
The achievement of Kagame’s rule have earned Rwanda recognition on both the local and international arena, due to economic development has also been supported by large investments attracted by the third best business climate in Africa according to the World Bank.
Fitch expects growth to remain robust, at 7.5% per annum up to 2015, driven by continuing high investment, expansion of the private sector and gradual integration within the East African Community- of which Rwanda is highest performer and role model in good governance and rapid economic development stimulation policies among others.
Apparently, Rwanda’s Minister of Finance and Economic Planning, Ambassador Claver Gatete has said that Rwanda’s economic performance for the financial year 2013-2014 will be highly propelled by a drive to self reliance and restoring Rwanda’s dignity.