2021 Earnings Presentation
Economic Overview
Sources:
Global conditions
•
•
The global economy is expected to moderate from
5.9% in 2021 to 4.4% in 2022, largely due to supply
chain disruptions, energy price volatility, and localized
wage pressures.
There remains uncertainty about the path of economic
growth this year, much of it due to risks surrounding
the evolution of the virus, and the developing
geopolitical turmoil. (1)
Outlook Review on Rwanda
Rwanda's GDP rebounded in 2021 with double digits
growth of 10.9% driven by a faster recovery of the
agriculture sector and the industry sector, following a
GDP contraction in 2020. (3)
The country is expected to grow to 5.7% in 2021,
supported mainly by high infrastructure spending and
a pick-up in the tourism sector as the effects of the
pandemic dissipate. (4)
Annual GDP growth
Sub-Saharan Africa
The regional GDP is projected to grow by 3.7% in
2021 and 3.8% in 2022. The rebound largely results
from a sharp improvement in global trade and
commodity prices (2)
10.9%
9.5%
8.6%
4.0% 6.0%
8.9%
8.6% 8.0%
7.3%
6.2%
4.7%
2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010
(1) IMF, World Economic Outlook Update January 2022
(2) IMF, Regional Economic Outlook (sub-Saharan Africa) October 2021
I&M Rwanda - 2021 Earnings Presentation
-3.4%
■GDP growth
Sources:
(3) National Statistics, Full Year GDP publication - March 2022
(4) AFDB, African Economic Outlook 2021
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