Rwanda’s Development Plans: Vision 2050 and NST2
The NST2 targets
| Indicator | Starting point | Target for 2029 |
|---|---|---|
| Real GDP growth | — | 9.3% a year on average |
| GDP per person | USD 1,040 (2023) | USD 1,369 |
| New jobs | — | 1.25 million, about 250,000 a year |
| Exports of goods and services | USD 3.5 billion | USD 7.3 billion |
| Private investment | USD 2.2 billion | USD 4.6 billion |
| National savings | 12.4% of GDP | 25.9% of GDP |
| Tourism revenue | USD 0.62 billion | USD 1.1 billion |
| Electricity | — | Universal access |
Source: Ministry of Finance and Economic Planning: Second National Strategy for Transformation (NST2) 2024–2029, abridged; Ministry of Trade and Industry: Unpacking NST2 targets that hinge on industrialisation1,2
Vision 2050
Vision 2050 is the long-term plan. Each five-year NST is a step towards it. Its two milestones are upper-middle-income status by 2035 and high-income status by 2050.
The digital plan under NST2 aims to train 1 million people in basic coding and 500,000 in advanced ICT skills, create 50,000 digital jobs and put 100% of government services online by 2029.
How the economy is doing
| Sector | Growth, second quarter of 2026 |
|---|---|
| Whole economy (real GDP) | 9.4% |
| Industry | 18% |
| Services | 7% |
| Agriculture | 4% |
Source: National Institute of Statistics of Rwanda: GDP National Accounts, second quarter of 20264
GDP at current prices reached FRW 7,174 billion in the quarter, up from FRW 5,799 billion a year earlier.
Where investors fit in
The plan depends on private companies: private investment is meant to more than double by 2029, and exports with it. A project that creates jobs or exports, or brings in skills, fits the plan, and that is usually what the investment incentives reward.
Frequently Asked Questions
What is Vision 2050?
Vision 2050 is Rwanda’s long-term development plan. It aims for upper-middle income status by 2035 and high income by 2050.
What does NST2 target?
The Second National Strategy for Transformation, NST2, runs to 2029. It targets average growth of 9.3% a year, 1.25 million new jobs and exports of USD 7.3 billion by 2029.
Is Rwanda on track with its growth targets?
GDP grew by 9.4% in the second quarter of 2026, above the NST2 average target of 9.3% a year.
Sources
- Ministry of Finance and Economic Planning: Second National Strategy for Transformation (NST2) 2024–2029, abridged
- Ministry of Trade and Industry: Unpacking NST2 targets that hinge on industrialisation
- Ministry of Finance and Economic Planning: ICT Sector Strategic Plan 2024–2029, abridged
- National Institute of Statistics of Rwanda: GDP National Accounts, second quarter of 2026
Figures checked 8 November 2026. Prepared by InvestRwanda.com for general information. It is not investment, tax or legal advice; please confirm details with a qualified adviser before acting.
