Rwandas economy is in steady decline During the Covid 19 Outbreak

Last updated on September 11th, 2021 at 08:00 am

Rwanda’s economy is in the throes of a recession as the continent is currently in a state of crisis with Covid 19. The continent as a whole has been hit hard by the global outbreak of covid19, and the level of major government projects is declining. Africa invested. Traffic has also stopped as traffic has been reduced and many cross-border economies have collapsed.

 Restrictions imposed on coronavirus control are putting pressure on the economy. Thousands face unemployment and there is a risk that many Rwandans will fall into poverty. That is why analysts are urging the government to take further steps to boost growth in the East African country. Retail trade, leisure, hospitality and conference tourism are the main components of the challenge.

The country has a population of 12 million people has seen strong steps against looga coronavirus from the beginning of the epidemic of COVID 19 However, the people of Rwanda have felt the effects of the procedure – with 5% unemployment since the onset of the health crisis of 550,000 people in 2021.

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In particular, the Rwandan economy has suffered its first decline due to the epidemic of COVID-19 (coronavirus) and is likely to be affected by many years of poverty reduction.

Released today, the 16th edition of the World Bank for Economic Renewal, Defense and Promotion of the Human Capital behind COVID-19 World, says the country’s gross domestic product (GDP) is estimated to have fallen by 0.2 percent in 2020, compared to a projected expansion of 8 percent before the COVID-19 outbreak.

A report by the World Bank states that the Rwandan government is in a difficult and disaster-related crisis, with an Economic Recovery Plan (ERP) estimated at US $ 900 million for the fiscal year 2019/20 and 2020/21.