The international credit rating agency said the decision to keep Rwanda at “B+” is supported by several factors, including strong governance, the country’s ability to sustain high economic growth and the fact that a significant share of government debt is made up of concessional loans with low interest rates and long repayment periods.
Fitch also highlighted the financial support and technical assistance Rwanda continues to receive from development partners. According to the agency, this support is helping strengthen the country’s capacity to withstand economic and financial pressures.
Rwanda’s economy is projected to grow by 7.8% in 2026, driven largely by continued performance in agriculture and services, alongside major investment in infrastructure and other key sectors.
Among the major infrastructure projects highlighted by Fitch is the new Kigali International Airport. The airport is expected to become an important investment in supporting trade, transport and investment as Rwanda continues to expand its economic activity.
The report also noted that the Rwandan government continues to strengthen its fiscal position through reforms aimed at increasing tax and other domestic revenues, improving expenditure management and maintaining prudent debt-management practices.
Fitch expects Rwanda’s public debt burden to decline in the coming years, supported by strong economic growth and the country’s continued access to concessional financing.
This means that although Rwanda continues to invest heavily in major development projects, stronger economic growth and access to relatively affordable financing are expected to help ease pressure from public debt over time.
The agency said maintaining the “B+” rating also reflects continued progress in strengthening the country’s economic fundamentals, as Rwanda prioritizes sustainable growth, investment, resilience and sound public-finance management.
The Rwandan government has also reiterated its commitment to maintaining sound economic governance and making prudent economic policy decisions to support long-term growth and financial stability.
