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Rwanda finance minister says aid cuts may dent economic growth

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KIGALI | Wed Dec 5, 2012 9:54am EST

KIGALI (Reuters) - Rwanda may have to cut its 2013 economic growth forecast if $240 million in international aid remains delayed or suspended, its finance minister said on Wednesday.

"If all the $240 million was withheld ... we might revise that projection down from 7.6 percent to 6 percent growth," Finance Minister John Rwangombwa told a conference in Kigali.

Major donors have withheld aid to the east African country over allegations it is supporting rebels in neighboring eastern Democratic Republic of Congo.

(Reporting by Jenny Clover in Kigali; Writing by Richard Lough; Editing by Louise Ireland)
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Comments (1)
DeanMJackson wrote:
Since the West became an economic powerhouse without aid from whomever (!), it isn’t aid that causes economic growth. What Western “aid” to African nations is supposed to accomplish is PREVENT economic growth naturally, since such aid goes towards graft and projects that are not “economic”.

Economic growth can only occur through the profit/loss discovery apparatus of a free economy, otherwise no one knows if capital, labor and raw resources are being allocated to their most urgently needed investment options, and there are billions of investment permutations!

Dec 05, 2012 11:10am EST  --  Report as abuse
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