Editor, Since 1996, Rwanda has experienced steady economic recovery even though 50 percent of its budget still depends on foreign aid. However, the story is not sad as more policies are in place to generate income to boost the economy.
Editor,
Since 1996, Rwanda has experienced steady economic recovery even though 50 percent of its budget still depends on foreign aid. However, the story is not sad as more policies are in place to generate income to boost the economy. Becoming self reliant like the ‘Asian Tigers’, requires complete economic freedom.
This means the freedom to produce, trade and consume any goods and services acquired without the use of force, fraud or manipulation.
Other factors as hard as they sound have to be put into consideration. Things like, land reforms that involve real estate property redistribution, policies that target subsidies and tariffs on agricultural products, focusing on exports to richer industrialised nations, as well as high saving rates, will reduce the chronic donor dependence in a matter of years, that so many developing countries suffer from.
However, this cannot be achieved without a "Culture of harmony” that fosters economic growth. Social peace for economic development is a necessity when it comes to reducing donor dependence.
Through emphasising traditional values of harmony, self-sacrifice and non-individualistic group determination in pursuit of a common cause, Rwanda can achieve its long-term economic growth, and rely less on foreign aid.
Paris Hadasah