World Bank Group2014-09-082014-09-082014-08https://hdl.handle.net/10986/19971The Rwanda economic update reports on and synthesizes recent economic developments and places them in a medium-term and global context. It analyzes the implications of these developments and policies for the outlook of Rwanda s economy. These reports attempt to make an analytical contribution to the implementation of Rwanda s national development strategy. Each edition of the report includes a special feature on a selected topic. The report is intended for a wide audience, including policy makers, business leaders and other market participants, and the community of analysts engaged in Rwanda s economy.en-USCC BY 3.0 IGOACCOUNTABILITYACCOUNTINGAGRICULTUREALLOCATIONAMOUNT OF CAPITALAMOUNT OF CREDITARREARSBALANCE OF PAYMENTSBANKING SECTORBUDGET EXECUTIONCADASTRECAPACITY CONSTRAINTSCAPITAL EXPENDITURECAPITAL EXPENDITURESCAPITAL GOODSCAPITAL GRANTSCASH BASISCHANGE IN ARREARSCOMMERCIAL BANKSCOMMODITY PRICECOMMODITY PRICE CHANGECOMMODITY PRICESCOMMUNITY SERVICESCONSUMER GOODSCONSUMER PRICE INDEXCREDIT FACILITYCREDIT GROWTHCURRENT ACCOUNTCURRENT ACCOUNT DEFICITCURRENT ACCOUNT DEFICITSDEFAULT RATINGSDEMAND FOR CREDITDEPOSITDEPOSITSDEVELOPMENT ASSISTANCEDEVELOPMENT STRATEGYDISBURSEMENTDOMESTIC BORROWINGDOMESTIC DEMANDDOMESTIC REVENUEDOMESTIC TAXDONOR FUNDINGDUE DILIGENCEDUE PROCESSDURABLEECONOMIC COOPERATIONECONOMIC DEVELOPMENTECONOMIC DEVELOPMENTSECONOMIC GROWTHECONOMIC OUTLOOKECONOMIC RECOVERYECONOMIC SLOWDOWNECONOMIC STRUCTUREEMPLOYMENTEQUIPMENTEUROBONDEXCESS LIQUIDITYEXCHANGE RATEEXCHANGE RATE POLICYEXCHANGE RATESEXPENDITUREEXPORT DIVERSIFICATIONEXPORT EARNINGSEXPORT GROWTHEXPORTSEXTERNAL BORROWINGEXTERNAL DEMANDFINANCIAL ACCOUNTFINANCIAL MANAGEMENTFINANCIAL MARKETFINANCIAL MARKETSFINANCIAL SECTORFINANCIAL SECTOR DEVELOPMENTFINANCIAL SERVICESFINANCING SOURCESFISCAL CONSOLIDATIONFISCAL DEFICITFISCAL MANAGEMENTFISCAL OUTTURNFISCAL POLICYFISCAL REVENUEFISCAL STABILITYFIXED CAPITALFORECASTSFOREIGN DIRECT INVESTMENTFOREIGN EXCHANGEFOREIGN FINANCINGFOREIGN INVESTMENTFOREIGN INVESTMENTSFUTURE CONTRACTSGDPGOVERNMENT BORROWINGGOVERNMENT CONSUMPTIONGOVERNMENT EXPENDITURESGOVERNMENT INVESTMENTGOVERNMENT SPENDINGGROSS DOMESTIC PRODUCTGROSS FIXED CAPITAL FORMATIONGROSS NATIONAL INCOMEGROWTH PERFORMANCEGROWTH RATEGROWTH RATESHEALTH SECTORHOLDINGSHUMAN DEVELOPMENTIMPORTIMPORT PRICESIMPORTSINFLATIONINFLATION RATESINFORMATION SYSTEMINFORMATION TECHNOLOGYINFRASTRUCTURE PROJECTSINSTRUMENTINTEREST PAYMENTSINTEREST RATEINTEREST RATESINTERNATIONAL RESERVESINTERNATIONAL TRADEINVESTMENT PROJECTSINVESTOR CONFIDENCEISSUANCELABOR FORCELABOR MARKETLAWSLEGISLATIONLIQUIDITYLIQUIDITY CONSTRAINTSLOANLOAN APPLICATIONSMACROECONOMIC ENVIRONMENTMACROECONOMIC MANAGEMENTMACROECONOMIC STABILITYMACROECONOMICSMARKET PARTICIPANTSMATURITIESMEDIUM-TERM EXPENDITUREMEDIUM-TERM EXPENDITURE FRAMEWORKMEDIUM-TERM OBJECTIVEMINISTRY OF FINANCEMONETARY AUTHORITYMONETARY FUNDMONETARY POLICYMONEY MARKETNATIONAL ACCOUNTSNATIONAL BANKNATIONAL BUDGETNATIONAL DEVELOPMENTNATIONAL INCOMENATURAL RESOURCESNET EXPORTSNET LENDINGNONPERFORMING LOANSOPEN MARKETOPEN MARKET OPERATIONSPOVERTY REDUCTIONPOVERTY REDUCTION STRATEGYPRICE CHANGEPRICE DATAPRIVATE CONSUMPTIONPRIVATE INVESTMENTPRIVATE SECTORPRIVATE SECTOR CREDITPUBLIC ADMINISTRATIONPUBLIC CONSUMPTIONPUBLIC EXPENDITUREPUBLIC EXPENDITURESPUBLIC FINANCIAL MANAGEMENTPUBLIC INVESTMENTPUBLIC SECTORPUBLIC SERVICESPUBLIC SPENDINGREAL EFFECTIVE EXCHANGE RATEREAL GDPREAL SECTORRECURRENT EXPENDITURESREGULATORY FRAMEWORKREGULATORY SCRUTINYRESERVERESERVESRESOURCE MOBILIZATIONREVENUE MOBILIZATIONSAFETY NETSANITATIONSHARE OF INVESTMENTSHORT-TERM GOVERNMENT SECURITIESSHORTFALLSOCIAL EXPENDITURESOCIAL EXPENDITURESSOCIAL PROTECTIONSTRUCTURAL REFORMSTAXTAX ADMINISTRATIONTAX BASETAX COLLECTIONSTAX REVENUETAX REVENUESTAXATIONTAXPAYERSTOTAL EXPENDITURETOTAL EXPENDITURESTOTAL INVESTMENTTOTAL REVENUETRADE BALANCETRADE DEFICITTRADINGTRANSMISSION OF MONETARY POLICYTRANSPARENCYTRANSPORTTREASURYTREASURY BILLTREASURY BILL RATETREASURY BILLSWAGESYIELD CURVE10.1596/19971