Rwandan economy realised 1.7% growth in Q1

Rwanda's economy has shown a modest growth of 1.7 percent in the first quarter of 2017 compared to the same period in 2016, according to a report by the National Statistics Bureau. The services sector maintained the bulk at 46 percent, followed by agriculture at 32 percent, and the industrial sector at 15 percent. The statistics office revised the fast quarter growth in 2016 from 7.3 percent to 8.9 percent, indicating a positive trend. CNBC Africa recently spoke with Ivan Murenzi, Deputy Director General at the National Institute of Statistics for Rwanda, to delve into the details of the report. Murenzi highlighted key points regarding the economy, sector dominance, and potential areas for growth and inequality reduction. Murenzi pointed out that while the current growth rate is lower than in previous years, it is essential to consider other quarters' performance to gauge the overall economic trajectory. He emphasized the significance of agriculture, which employs a significant portion of the population, calling for increased growth to benefit the sector's workers. Addressing inequalities, Murenzi suggested looking beyond GDP numbers to reliable statistics that measure poverty levels and living standards. The tourism sector emerged as a promising area, with an 8 percent growth driven by air transport advancements. Murenzi indicated that ongoing hotel projects and pricing revisions for tourism activities could further boost the sector's growth. He highlighted the potential impact of the Gessera airport project on the construction sector and overall GDP, hinting at a positive outlook for future quarters. Murenzi's insights shed light on Rwanda's economic landscape and the key factors influencing its growth and development. As the country navigates through economic shifts, monitoring sector performances, addressing inequalities, and leveraging growth opportunities will be crucial for sustainable progress.