This is the gist of the latest World Bank Rwanda Economic Update report that was launched last week at
She said this would minimize current vulnerabilities in the economy and enable the country to sustain its high growth rates into the next decade.
Because of a strongly developed services sector growth of
"We are hopeful that growth in 2014 will be higher than that in 2013 and this is because of the turnovers in services and industries that have picked up,"
He said the lagged effect of the aid shortfall to the economy was extended to the second half of 2013 which affected both private and public sector activities but there was signs of recovery in 2014.
"Investment in mining in the past few years has contributed to an increase in mineral exports which accounted for 40% of total goods exports in 2013," Nishiuchi said.
This is why the government aims at changing this sector to a semi-industrial sector.
This report indicates that production capacity of landlocked country's mining sector has progressively increased with export earnings reaching
"Mining will help the country create more off- farm jobs which is one important pillar of the government EDPRS2," she said.
This sector has created over 33.000 jobs and again it pays more as compared to other jobs in rural areas.
To increase on volumes of minerals from the country, different strategies have been developed by the government.
"The duration of getting licenses has been reduced, legal framework on mining has been changed, management of the mining licenses among others have been addressed," Michael Biryabarema said.
"Government again aims at looking at efficiency of mineral production so quality minerals can be produced which will help it reach its targets of EDPRS2," Biryaberama said.
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