Rwanda, Jan 12 – The decrease in prices for vegetable and foodstuff have seen Rwanda’s inflation rate register a decline by 6.6 per cent to record at 0.7 per cent year-on-year in December 2017. In November, the rate stood at 2.2 per cent, with now the country being optimistic of a competitive economy and rise in businesses in 2018.
The cost of vegetables decreased 10.1 per cent in December, with the price of foodstuffs declining by 3 per cent. On the other hand, electricity and gas, including other fuels inclined by 2.4 per cent.
The country will be pushing for a stronger economy in comparison to Tanzania that has been poised to have a better economy in 2018. The competition in the East Africa bloc will aid in luring of investors to the country and making businesses better.
Rwanda is hoping to reduce its import cost and rather have an increase in productivity level to export more for the foreign exchange. The state of dependency for imports has hampered the country’s economy but the Government is prepared to change the course for an improved economy.
Businesses can at least not respond quickly to temporal changes as they foresee a better future and can hold long enough for a better tomorrow.