Investor Briefing - FY & Q4 2019

i&MBank IPLC KENYA TANZANIA RWANDA MAURITIUS RWANDA-COUNTRY PROFILE & BUSINESS ENVIRONMENT GDP growth and its drivers GDP growth Q4 2019 9.8% Total budget (FY 19/20) FRW 3,017.1bn Expenditure (% of GDP) 26% Inflation 2.4% Services 49% Rwanda's GDP at current market prices in 2019 was estimated at Frw 9.105Billion, a growth of 9.8% compared to 2018, as a result of good performance in the industry (+17%) & services (+8%) sectors. - The high performance recorded in the industry sector was mainly driven by booming construction activities (+33%) backed by recent infrastructure projects.. Air transport activities (+17%) and Wholesale trade & retail activities (+16%) were the main drivers of the services sector. The agriculture sector performance noted growth of 5%, due to food crop production reduction but the trend was supported by good performance in export crops and livestock. GDP breakdown by sector (FY 2019) Tax (less subsidy) 9% Industry 18% Agriculture 24% Source: BNR Monetary Policy, NISR Publications I&M Rwanda - Investor Briefing - FY & Q4 2019

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