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Browsing: Rwanda’s economic outlook 2021
Rwanda’s current account deficit in 2021 is expected to decrease to 10.42 per cent of the Gross Domestic Product (GDP) and improve in 2022 to 9.1 per cent due to covid-19 vaccine rollout which is expected to trigger a rebound in foreign direct investments and tourism.
The report is dubbed “African Economic outlook 2021: From Debt Resolution to Growth: The Road Ahead for Africa” by the African Development Bank (AFDB).
The report noted that in 2020 the country’s current account deficit recorded 16.5 per cent of GDP compared to 9.3 per cent in 2019. This was due to reduced foreign direct investments and low exports in 2020.
According to the report, in 2021 Rwanda’s fiscal deficit is expected to narrow to 7.8 per cent of GDP and due to a planned fiscal consolidation in the 2021/22 fiscal year, its GDP is expected to further improve in 2022 to 7.2 per …