Rwanda : Toward Sustained Growth and Competitiveness, Volume 2. Main Report

Rwanda established targets for Gross Domestic Product (GDP) growth and poverty reduction, to be achieved by the year 2020; these were to (i) raise real per capita income from $230 to $900; and (ii) reduce the poverty incidence by half. To reach the...

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Bibliographic Details
Main Author:	World Bank
Format:	Country Economic Memorandum
Language:	English en_US
Published:	Washington, DC 2012
Subjects:	ACCESS TO INFORMATION ACCOUNTING ADMINISTRATIVE COSTS AGGREGATE DEMAND AGRICULTURE ASSET VALUE AVERAGE GROWTH BASIC EDUCATION BENCHMARKING BINDING CONSTRAINT BORROWING BUDGETING BUSINESS DEVELOPMENT CALCULATIONS CAPITAL ACCOUNT CAPITAL FLOWS CAPITAL INVESTMENT CAPITAL STOCK CENTRAL BANK COMMERCIAL BANKS COMMODITY COMPETITIVENESS COMPREHENSIVE STRATEGY CONSUMER CONTRIBUTION COST EFFECTIVENESS COST RECOVERY CURRENCY CURRENT ACCOUNT CURRENT ACCOUNT DEFICIT DEBT DEBT RELIEF DEBT STOCK DECENTRALIZATION DEPRECIATION DEVELOPMENT ASSISTANCE DEVELOPMENT BANK DEVELOPMENT PROCESSES DEVELOPMENT STRATEGY DIRECT INVESTMENT DIVERSIFICATION DOMESTIC CREDIT DROUGHT EARNINGS ECONOMETRIC ANALYSIS ECONOMIC DEVELOPMENT ECONOMIC GROWTH ECONOMIC GROWTH RATES ECONOMIC MANAGEMENT ECONOMIC PERFORMANCE EDUCATION INITIATIVES ELECTRICITY EMPLOYER CONTRIBUTIONS EQUIPMENT EXCESS SUPPLY EXCHANGE RATE EXPENDITURE EXPORT COMPETITIVENESS EXPORT GROWTH EXPORTER EXPORTS EXTENSION SYSTEM EXTERNAL BORROWING FARM INCOME FINANCES FINANCIAL CRISIS FINANCIAL MANAGEMENT FINANCIAL MARKET FINANCIAL PROCEDURES FINANCIAL PRODUCTS FINANCIAL SECTOR FINANCIAL SECTORS FINANCIAL SUPPORT FISCAL DEFICIT FISCAL DEFICITS FISCAL POLICY FIXED EXCHANGE RATE FLEXIBLE EXCHANGE RATE FOREIGN DIRECT INVESTMENT FOREIGN EXCHANGE FOREIGN EXCHANGE TRANSACTIONS GDP GDP PER CAPITA GNP GOVERNMENT EXPENDITURE GOVERNMENT REVENUE GROSS NATIONAL PRODUCT GROWTH PROJECTIONS GROWTH RATE HEALTH OUTCOMES HEALTH SERVICES HEALTH SPENDING HOSPITALS HUMAN CAPITAL HUMAN DEVELOPMENT HUMAN RESOURCES IMMUNIZATION INCOME INCOME INEQUALITY INCOME SOURCES INCOMES INFLATION INFRASTRUCTURE INVESTMENT INSTITUTIONAL CAPACITY INTEREST RATE INTEREST RATE POLICY INTERNATIONAL DEVELOPMENT INTERNATIONAL INTEREST INTERNATIONAL STANDARDS INVESTING INVESTMENT CLIMATE INVESTMENT CLIMATE ASSESSMENT JOB TRAINING LABOR FORCE LABOR MARKET LACK OF KNOWLEDGE LAND HOLDINGS LAND USE LATIN AMERICAN LEGAL FRAMEWORK LEGAL REFORMS LEVIES LICENSES LIQUIDITY LOCAL GOVERNMENT LONG-TERM GOALS LOW INCOME M2 MACROECONOMIC MANAGEMENT MACROECONOMIC STABILITY MACROECONOMICS MAINTENANCE COST MAINTENANCE COSTS MARGINAL COST MARKET ECONOMY MARKETING MATH MEDIUM TERM EXPENDITURE FRAMEWORK MICRO-ENTERPRISES MICROFINANCE MICROFINANCE INSTITUTIONS MONETARY AUTHORITY MONETARY FUND MONETARY POLICY MONOPOLY MORBIDITY MORTALITY NATIONAL BANK NATIONAL INVESTMENT NUTRITION PATIENTS PER CAPITA INCOME PHYSICIANS POVERTY RATE POVERTY RATES PRESENT VALUE PRIMARY EDUCATION PRIMARY HEALTH CARE PRIVATE INVESTMENT PRIVATE SECTOR PRIVATE SECTOR INVESTMENT PRIVATE SECTOR PARTICIPATION PRODUCTIVITY PUBLIC PUBLIC DEBT PUBLIC EXPENDITURES PUBLIC FINANCE PUBLIC PROCUREMENT PUBLIC SECTOR PUBLIC SPENDING PUBLIC-PRIVATE PARTNERSHIPS PURCHASING POWER RAPID GROWTH REAL EXCHANGE RATE REAL GDP RECURRENT COST RECURRENT EXPENDITURE REFUGEES RELEVANT POPULATION RESERVE RESERVES RESOURCE ALLOCATION RESOURCE MOBILIZATION RESPONSIBILITIES RETURNS ROADS RPA SAFETY NET SALARIES SALARY SALE SALES SAVINGS SAVINGS RATE SECONDARY EDUCATION SECONDARY SCHOOL SENIOR SMALL-SCALE ENTERPRISES SMALLER FIRMS SOCIAL SERVICES SUB-SAHARAN AFRICA TARIFF BANDS TAX TAX RATE TAXATION TEACHER TRAINING TELECOMMUNICATIONS TOTAL FACTOR PRODUCTIVITY TOTAL REVENUE TRADE REFORMS TRADE UNION TRAINING MATERIALS TRANSACTION TRANSACTION COSTS TRANSPARENCY TREASURY TREASURY BILLS TRUST FUND TRUST FUNDS UTILITIES UTILITY FUNCTIONS VALUE ADDED WITHDRAWAL
Online Access:	http://documents.worldbank.org/curated/en/2007/10/9037393/rwanda-toward-sustained-growth-competitiveness-vol-2-2-main-report http://hdl.handle.net/10986/7702

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Summary:	Rwanda established targets for Gross Domestic Product (GDP) growth and poverty reduction, to be achieved by the year 2020; these were to (i) raise real per capita income from $230 to $900; and (ii) reduce the poverty incidence by half. To reach these targets, the Government projected in its 2002 Poverty Reduction Strategy Paper (PRSP) that GDP growth will to be in the range of 6 to 7 percent over the medium term. The PRSP focused on six priority areas: (i) rural development and agricultural transformation; (ii) human development; (iii) economic infrastructure; (iv) good governance; (v) private sector development; and (vi) institutional capacity development. While increased spending in the social sectors led to substantial improvements in outcomes there has been only limited spending for economic services, including investment to improve productivity in agriculture and manufacturing. Improvements in poverty have been marginal, due to a number of factors: (i) lack of investment in infrastructure during the recovery and stabilization phase, to complement the reforms undertaken to improve the business environment; (ii) lack of investments in capacity, institutions, and land/water management in the agricultural sector; (iii) continued low use of inputs; (iv) instability within the region; (v) delays in Rwanda's accession to the East Africa Community (EAC); and (vi) a slower than expected pace of reform in key sectors such as the tea industry. The PRSP anticipated that growth in the agricultural sector will proceed with progressive commercialization, with ensuing demand for agricultural and non-agricultural goods and services in rural areas, resulting in increasing non-farm employment.

Rwanda : Toward Sustained Growth and Competitiveness, Volume 2. Main Report

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