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 2nd most reformed country in the World , over six years, after Georgia (2005-2011).
It came in 56 out of 190 countries on the overall list, up from 59th last year.
In 2011, Rwanda introduced about reforms to ease doing business in the country. It now takes 1 day to start business compared to 45-days average on the African continent, and 13-days for the rich countries to start a business.
In 2012, the World Bank Doing Business report reflects Rwanda the 3rd easiest to do business in Africa after Mauritius, and South Africa.
Rwanda is the easiest country to do business in East Africa.
Some other key figures:
US$16.37 billion (2013 )
US$15.74 billion (2012)
US$13.86 billion (2011)
US$12.16 billion (2010)
GDP – real growth rate: 5.9% (2016)
GDP – per capita: US$697 (2015)
GDP – composition by sector:
agriculture: 35% ,
industry: 15.1% ,
services: 50.3% (2016)
Currency: Rwandan franc (RWF) Exchange rates (29 May 2017):
US$1 = RWF 827.1