Rwanda is projected to record economic growth of 7.2 percent in 2026, making it the third fastest-growing economy in Africa, according to the International Monetary Fund’s latest World Economic Outlook.

The forecast follows strong recent performance, with the economy expanding by 7.2 percent in 2024 and maintaining similar momentum through the first half of 2025. Growth has been driven largely by services, construction, and rising coffee exports, underpinned by steady macroeconomic management and investment.

Only South Sudan, projected to grow by 48.8 percent, and Guinea, forecast at 9.3 percent, are expected to outperform Rwanda on the continent. Other African economies tipped for above-average growth include Ethiopia, Benin, Niger, Côte d’Ivoire, Uganda, Tanzania, and Zambia, with expansion rates generally between 4.0 and 4.5 percent.

Kigali-based economist John Bosco Kalisa said Rwanda’s growth is being powered primarily by the services sector, particularly tourism, construction, and financial services. He added that manufacturing is also contributing, especially mining, where gold production has nearly tripled in recent years.

“These sectors form the backbone of growth, but productivity improvements across the broader economy remain crucial for sustaining long-term expansion,” Kalisa said, noting that Rwanda’s progress reflects years of consistent policy implementation and strategic investment.

He added that the country’s diversified growth model has strengthened its resilience to global and regional shocks, helping to ensure that expansion remains both strong and sustainable. Kalisa described the projected 7.2 percent growth as “remarkable,” highlighting Rwanda’s continued progress toward consolidating its middle-income ambitions.

Latest figures from the National Institute of Statistics Rwanda show GDP reached Rwf5,525 billion in the third quarter of 2025, up from Rwf4,659 billion a year earlier, representing year-on-year growth of 11.8 percent. The economy expanded by 6.5 percent in the first quarter and accelerated to 7.8 percent in the second quarter, reinforcing the outlook of sustained momentum into 2026.