"The economy remains resilient and strong," the governor told participants during the presentation of the Monetary Policy and Financial Stability Statement on Thursday, March 21.
"This strong growth momentum is expected to continue in 2024 led by increasing investments in the construction and tourism sub-sectors and the recovery of the agriculture sector thanks to improving weather condition," he said. "We saw increased imports and exports. But imports increased much faster than exports. Part of the biggest driver of our import bill is food imports," Rwangombwa said.
Merchandise imports also rose by 6.9 per cent, mainly driven by the increased demand for imported goods and services to support the economic recovery.With global inflation easing and commodity prices going down, the central bank governor sees the domestic economy following the same growth trend.
Source: Holiday News (holidaynews.net)
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