KIGALI, Feb. 21 (Xinhua) -- Rwanda's economy is projected to grow by 7.8 percent in 2019 based on the economy's robust performance registered in 2018, John Rwangombwa, governor of the National Bank of Rwanda, said Thursday.
"Rwanda's economic growth remained high in 2018 and is expected to remain robust through 2019. The economy is projected to grow by 7.8 percent this year, due to low and stable inflation and subdued exchange rate pressures," said Rwangombwa while presenting the Monetary Policy and Financial Stability Statement in Kigali, capital city of Rwanda.
The exchange rate pressures are projected to remain moderate, and inflation is forecasted to be around 3.0 percent in 2019, in line with the benchmark inflation band, he said.
Good economic performance in 2018 supported the growth and stability of the financial sector, whereby there has been increased growth in the financial sector, three times bigger than it was eight years ago, with banks dominating the sector, he added.
According to him, in the first three quarters of 2018, GDP growth averaged at 8.3 percent against 4.6 percent in the same period of 2017.
The robust economic growth in 2018 resulted from good performance in the agriculture sector, service sector and industry sector, said the governor.
