Rwanda’s economy still may be small and predominantly agricultural, but in recent years, with political stability, it continues to grow steadily shifting to a supply economy. The major economic sectors have recorded remarkable progress and have improved internal resources to finance the budget.
Rwanda has put in place the Economic Development and Poverty Reduction Strategy (EDPRS) which provides a medium term framework for achieving the country’s long term development aspirations as embodied in Rwanda Vision 2020, the seven year Government of Rwanda (GoR) programme, and the Millennium Development Goals.
The major exports of Rwanda are coffee, tea, tin cassiterite, wolframite and pyrethrum. Coffee makes up more than 50% of the total export value, while the mountain grown tea is considered to be some of the finest in the world.
Radical reforms which have made it easier for businesses to get credit, pay taxes, starting a business have boosted Rwanda’s ratings in the World Bank’s ‘Doing Business Report’.
Rwanda is the most improved economy worldwide since 2005 (World Bank Doing Business Report 2014).
It came in 32nd out 189 countries as per 2014 Word Bank Doing Business Report
In 2012, Rwanda introduced about reforms to ease doing business in the country. It now takes 6 working hours to register your business.
In 2013, the World Bank Doing Business report reflects Rwanda the 2nd easiest to do business in Africa after Mauritius.
Rwanda is the easiest country to do business in East Africa.
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