Written by Aimé Muligo Sindayigaya
According to a June 2015 World Bank report, Rwanda ranks behind similar countries in most key economic areas despite reportedly remarkable levels of growth over the past few decades.
The report states that the Rwandan economy is characterised by the following:
1) High economic growth with low per-capita income
2) Low exports
3) Low private investment with high public investment
4) Strong dependence on foreign aid
The above video highlights some key trends in the characteristics of the Rwandan economy as outlined by the World Bank from the year Rwanda gained independence to the present day.
Recognising that many people may be hesitant to engage with economic reports and articles on Rwanda, the above video was produced and published to enable quick and efficient dissemination of insightful information on the Rwandan economy for those who have a higher proclivity towards visual information.
The trends and graphical insights illuminated in the video were compiled using data available from open sources such as World Bank and International Monetary Fund database as well as the United Nations Human Development, Rwanda’s General Auditor’s office and Global Financial Integrity reports.
To make the video more insightful, Rwandan key economic indicators are compared in two ways. Firstly, Rwandan economic data is contrasted using the timespan of the various political regimes following the country’s gaining of independence as a marker. This was done to illustrate the performance of each regime as an individual indicator. Secondly, Rwanda is compared to other similar or relevant economies.
It is important to note that some of the trends in the video do not begin with the year Rwanda gained independence. This is due to a lack of available data. Moreover, average figures have been used to enable better illustration and understanding of trends.
It is hoped that the contents of the video will inspire stakeholders to conduct further in-depth research on the Rwandan economy that may enhance the understanding of the country’s economic progress. Furthermore, it is hoped that the contents of the video will encourage the Rwandans themselves to continue working towards designing appropriate solutions that would lead them towards achieving sustainable development.
Insightful Quotient is a website that encourages debates on how to achieve sustainable development in developing countries using an intercultural cooperation. Therefore, we welcome your insightful arguments that provide scrutiny and ideas that can elaborate further the analysis detailed in the above video.