Rwanda’s economy seen expanding slower this year as inflation bites

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People are seen looking at clothing items in the Nyabugogo Market in Kigali, Rwanda July 31, 2018. REUTERS/Jean Bizimana/File Photo

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KIGALI, March 21 (Reuters) – Rwanda’s economy is projected to grow 7.2% this year as the war in Ukraine is likely to raise inflation by increasing the price of cereals like wheat, Finance Minister Uzziel Ndagijimana said on Monday.

On Monday the country’s Statistics Bureau said the economy expanded by 10.9% in 2021.

“It is not easy to quantify now but we can see at least the transmission mechanism on products from this crisis,” Ndagijimana told reporters, referring to the war in Ukraine.

Rwanda’s economy bounced back after being hit badly by the impact of restrictions aimed at curbing the spread of COVID-19, particularly tourism and other main sectors.

The conflict has added to the trade chaos that followed the global economy’s emergence from COVID-19 pandemic…

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