VZCZCXYZ0000
PP RUEHWEB

DE RUEHLGB #0663 2871508
ZNR UUUUU ZZH
P 141508Z OCT 09
FM AMEMBASSY KIGALI
TO RUEHC/SECSTATE WASHDC PRIORITY 6363
INFO RUEHXR/RWANDA COLLECTIVE PRIORITY

UNCLAS KIGALI 000663 
 
SENSITIVE 
SIPDIS 
 
E.O. 12958: N/A 
TAGS: ECON EINV EFIN RW
SUBJECT: RWANDA REPORTS 9 PERCENT GDP GROWTH; IMF UNSURE 
 
¶1. (U)  Rwandan Minister for Finance and Economic Planing 
James Musoni told the local press October 14, that the 
economy grew 9 percent for the first two quarters of 2009. 
This is almost double earlier estimates by the government and 
the IMF of 5.3 percent annual growth.  Musoni attributed the 
growth to strong performance in agriculture and predicted 
that over the next few months the economy will grow further 
due to substantial new investments in infrastructure and 
construction.  As a result of the global economic crisis, 
Rwandan exports of coffee, tea and minerals declined by 20 
percent for the first two quarters, while tourism remained 
stable. 
 
¶2. (SBU) Statistics from the National Institute of Statistics 
of Rwanda also showed per capita income has grown above $500 
in the first half of the year, compared to $492 in 2008. 
Musoni told reporters he was optimistic that by the end of 
this year, per capita income will reach $520.  IMF Country 
Representative Dmitry Gershenson told Econoff that the per 
capita statistics were "about right", adding that Rwanda has 
"underestimated" GDP for the last couple of years. 
 
¶3. (SBU)  Gershenson could not confirm the government's GDP 
growth estimates and admitted that "the 9 percent figure came 
as a surprise."  He added, "the authorities have not yet 
shared their calculations with us, so I cannot attest to the 
veracity of their numbers." Gershenson noted that an IMF team 
will visit Rwanda in 2-3 weeks and will review the 
government's projections. 
CASPER