Investors totally and totally can’t invest in a climate of political uncertainty. During this year’s budget presentation, Rwanda’s finance minister – Claver GATETE cameout to dupe and con the public that the last financial year witnessed again/increase of foreign investors in Rwanda, as usual he came short of telling us witch sector(s) are these investors pouring- investing in. While for 2016, the rest of the region where registering an average GPD growth of around 4%, as usual, the masters of doctoring in Kigali came out to tell the world that the Country’s GDP for 2016 was at around 5.9 – 6.2%.
*Realy, what has been sustaining or bringing this kind of economic growth for the last 20 years? Remembering that for the last 20 years, the country has witnessed GDP growth averaging 7.5% to 8%.
- Which economic sectors that has been supporting this kind of growth for the last 20 years?
With this king of growth for the last 20%, why is Rwanda still depending around 40 – 45% of her national budget from donor Countries? By now it should be a donor country not a donor dependant!
We have to remember that it took tiger countries of Singapore and Malaysia, ten years of GDP growth of around 6% to move from agrarian and fishery economy to industrial – service economy. This growth made the Tiger countries developed the best and competitive human capital in the world. How is Rwanda’s development of human capital in relation to her neighbours? Kagame’s school – education system is a witness to this question.
With time, this economic lies have come back to bite the dictator. In reality the economy is crumbling, he has over borrowed and the list of debt serving agencies are on the increase.
The credit rating agencies have marked the police state as lower. This implies that borrowing result in higher borrowing costs because the borrower in this case Rwanda, is deemed to carry a higher risk of default, the country is always defaulting on its payments.
- The country is currently experiencing volumes of business bankruptcy and closures. The cost of living is sky rocketing, for civil servants and the general public, especially those in Kigali, life is becoming unbearable – little hell.
Civil servants are going for months without being paid their salaries. Teachers and nurses being the biggest recipient of this economic squeeze.
Youth unemployment is at a staggering 70%, with redundancies on daily basis.
It’s only in Rwanda and North Korea were you will be told of economic growth for exporting nothing. In case of Rwanda, the country is facing massive trade deficits, yet state janjaweeds will go in front of the camera to sing about spectacular economic growth.
Rwandans are on exodus and youths being at the forefront, with Uganda registering the highest number of this economic exodus. Why flee from a country which is economically doing well?? It’s only in Rwanda were citizens are fleeing from the basket of hope into the oblivion of Malawi or the scrubs of Mubende in Uganda.
Ladies and gentlemen, lets continue watching criminal Paul Kagame’s fictional economic growth, learn the art of data doctoring and the science of presenting delusional concepts.
By Rpf Gakwerere
