Yanditswe Jan, 29 2020 12:17 PM | 7,193 Views
The World Bank says that for Rwanda's Digital evolution to become transformational, the private sector needs to play a far greater role in spearheading digitization, through both increased technology adoption and support for innovation.
According
to the Rwanda Economic Updates published by the World Bank, the country's
economy expanded by 10.9% in the first nine months of 2019 compared to 8.2%
growth in the same period of 2018.
Due to the good economic performance, the World Bank's forecast for the country's 2019 economic growth was revised upward from 7.8% to 8.5%.
With a special focus on Digitilizing Rwanda, the World Bank Experts said that more private sector-led digital economy growth needs to be encouraged starting with greater digital adoption among Small and Medium Enterprises.
Permanent Secretary in the Ministry of ICT and Innovation Claudette Irere said that though the government has invested in the necessary infrastructure to fast-track digitilizing, the public needs to be empowered with skills and tools in order to make use of the available digital platforms.
Though the country's economic growth is impressive, the World Bank says that the country's public debt has been steadily rising since 2013 adding that by the end of 2019, the public debt stood at 58.5% of the GDP.
This increase was attributed to fiscal expansion plans carried out by the government to ensure greater access to infrastructure in the country.
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