How Rwanda’s economy performed in H1’23

Rwanda, East Africa’s fourth largest economy registered an average GDP growth rate of 7.7 per cent in the first of the year with the services sector being a key growth driver. Despite the steady growth, the country’s economy is still susceptible to external risks majorly around the spike in crude oil prices. CNBC Africa spoke to Dr. Thierry Kalisa, Chief Economist, National Bank of Rwanda who holds that rise in crude is a passing cloud and that prices will obtain at 70 to 80 dollars per barrel in the long term.