Analysis by Region - Emerging Markets - Rwanda
The Rwandan economy performed slightly weaker than anticipated in Q1 2023. This year we expect a tightening in purse strings, both by households and the government, as the substantial rise in prices and higher borrowing costs permeate the economy. In addition, concerns over regional stability and Rwanda's involvement in the conflict could have a detrimental impact on business sentiment and calls into question Kigali's ability to source vital donor support. We forecast GDP growth to ease to 6.0% this year, from 8.2% in 2022, and for the economy to expand by just over 6.0% in 2024.
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