Rwanda's economy has sustained growth despite the negative effects of an unstable eastern Democratic Republic of Congo and other external shocks brought on by the after effects of the global downturn five years ago. This has not stopped Rwanda from generating income and, despite challenges, was able to increase exports to $489 million which is a 27.2% increase by the end of November 2013 compared to 2012. In his State of the Nation and End of Year speech last month, President Paul Kagame highlighted that good security and stability, had enabled the country to grow at 6.6%. "Rwandan people are able to work freely throughout the country, because of the prevailing security and again people who visit the country, that is the investors, tourists, among others, are safe when they come here which promotes business in the country," Kagame said. He said Rwanda's current GDP growth rate was above the sub-Saharan average and hoped for even higher growth in 2014. Kagame highlighted some sectors including agricultural, industry, infrastructure, and mining. "The mining sector pulled in $30 million in 2013 compared to the $39 million which shows decline, but with this performance we hope for a doubled revenue collection which will see economic growth go higher," he said. He said, "Investment in the country for the last six months has remained at $456million as compared to the $538million of the whole year 2013 and this is a good sign to more economic development." He said increased investment is a reflection of the trust Rwanda is gaining in the global financial capital markets. The latest World Bank /IFC Doing Business survey ranked Rwanda 32 globally, up from 52 in 2012, but second in Africa . This follows the government's efforts to make it easier to do business in the country. "Financial services by different financial institutions improved and here bank deposits increased by 20% from September 2012 to September 2013 , plus loans given out by increased by 13% which is all for the better of our economy," Kagame said. Rwanda also saw an expansion in the insurance industry which resulted in an increase of 22% of the assets, plus the tourism industry which made a 4 percent increase over 2012 and brought in $218 million from the 714 tourists the country received. The President said, "From the agricultural sector which is projected to grow by 5.4 percent, the Rwandan tea and coffee continues to be recognized internationally hence contributes more to economic development and with the launched East African Commodity, farmers will be able to get permanent market for their products." The government's Girinka Munyarwanda (One cow per family) program has also seen about 184.000 Rwandans get cows which has improved their social welfare and boosted economic growth. Electricity, water, and road, services have been improved and here many Rwandans have access, plus the education sector has also been improved and here an increase in enrolment of students of 7 percent to Nursery and Primary schools is seen, an increase of 6 percent to Secondary schools, plus a 10 percent increase of students to Universities [from 76.629 in 2012- 84.448 in 2013]. This fiscal year, budget to vocational training has been raised from Rwf10.5 billion to Rwf30.5 billion which will help create skilled labor hence contribute to economic growth. Rwanda faced different challenges in 2012 but With the different developed strategies to development Rwanda hopes for a better economic growth in this year 2014.
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