Assessing Rwanda’s Economic Reform Programme Towards Development

Abstract

Economic reform programmes have been major drivers of economic growth and development in both developed and developing countries. The notion of economic growth and development is very crucial to developing countries. Rwanda, a country that has encountered numerous economic downturns. The study identified that despite the various economic reform programmes adopted by Rwanda, it is still challenged with underemployment issues and poverty. The study analyses the extent to which the six pillars of the “Vision 2020”, an economic reform programme which was adopted the government of Rwanda in 2000 have curbed these issues and, fostered economic growth and development in the country. The study employs qualitative research method in analyzing the data obtained. A multivariate analysis was adopted to access the relation between the pillars of the “Vision 2020” and economic development. Further, the study also outlined certain limitations that hampered the implementation of the “Vision 2020”. It identified that certain laws such as the ban on street vending and the lack of access to a port affected the implementation of the “Vision 2020”. The study recommended that the government of Rwanda should invest in developing the welfare of its citizens and construct more railways to facilitate trade relations. The study concluded that long-term economic reform programmes are ideal for developing economies due to the level of development associated with it.