Finance Minister Ndagijimana told parliament the economy was forecast to grow 6.2% in 2023 and around 7.5% in 2024 and 2025. The finance ministry estimates the economy grew 6.8% in 2022.
He said overall spending for the 2022/23 fiscal year that runs from July to June would rise by just over 2% to 4.76 trillion Rwandan francs ($4.42 billion) from the 4.66 trillion Rwandan francs announced in June, when he first presented the 2022/23 budget.
The Rwandan government, on its official website, painted this picture of the nation's economy:
Rwanda's Gross Domestic Product (GDP) has risen from $752 million in 1994 to $9.5 billion in 2018, and the GDP per capita has grown from $125.5 to $787 during the same period.
The country registered an average GDP growth of around 8 percent per year over the last two decades, with a double-digit growth recorded in the last two quarters of 2019 (12% growth in the 2nd quarter, and 11.9% in the 3rd quarter).
