Economic Development

Economic Overview

Rwanda’s long-term development goals are defined in a strategy entitled “Vision 2020”. The strategy seeks to transform the country from a low-income agriculture-based economy to a knowledge-based, service-oriented economy with a middle-income country status by 2020.The Government of Rwanda has been pursuing a reform agenda focusing on enhancing the attractiveness of the country as an investment location for the past 16 years. Rwanda has made remarkable socio-political progress and implemented wide-ranging structural reforms in its economy. It has a well articulated and inspiring 2020 vision - that sees per capita GDP quadrupling over the next decade and a half.

The Government is committed to investing in core infrastructure and creating an enabling environment for the private sector to lead and participate in the development of key economic sectors to increase exports and sustain high economic growth creating jobs and prosperity for all Rwandans.

In order to achieve these long-term development goals, the government of Rwanda has formulated a medium-term strategy. The second Economic Development and Poverty Reduction Strategy (EDPRS 2). The overarching goal of the EDPRS 2 is growth acceleration and poverty reduction through four thematic areas: economic transformation, rural development, productivity and youth employment, and accountable governance. The EDPRS 2 aims to achieve the following goals by 2018: raise gross domestic product (GDP) per capita to $1,000, have less than 30% of the population below the poverty line, and have less than 9% of the population living in extreme poverty.

These goals build on remarkable development successes over the last decade which include high growth, rapid poverty reduction and, since 2005, reduced inequality. Between 2001 and 2014, real GDP growth averaged at about 8% per annum. Recovering from the 2012 aid shortfall, the economy grew 7% (year-on-year) in 2014, 2.3 percentage higher than in 2013.

 

Links


http://edprs.rw/content/vision-2020
 

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