Rwanda has reduced its budget deficit to 4.8% of its gross domestic product (GDP) for the 2025/26 fiscal year, down from 5.5% in the previous year, according to the International Monetary Fund (IMF). This improvement was announced on October 6, 2026, after the IMF reached a preliminary agreement on the first review of Rwanda’s economic program under the Extended Credit Facility (ECF). The reduction is largely attributed to increased tax revenue collection. Additionally, higher international fuel prices have helped reduce the cost of fuel subsidies, contributing to the budget’s improvement. The IMF praised the government’s fiscal performance during the period, calling it solid. Despite these gains, Rwanda still faces challenges in maintaining its public finances, especially with limited access to external funding. A decrease in official development assistance, along with rising international prices for oil and fertilizers, continues to strain the country’s budget. In June 2026, a 38-month economic program was launched under the ECF, with a total value of 185,031 million Special Drawing Rights (SDR), approximately 250 million U.S. dollars. The achievement of key program targets allowed the IMF to agree on the first review on October 6, 2026. Once the program is officially approved by the IMF’s management and Executive Board, Rwanda could receive a disbursement of 26,433 million SDR, about 35.7 million U.S. dollars. Rwanda’s improved public finances come as its economy remains robust, with growth reaching 9.7% in the first half of 2026. However, inflation remains a significant concern, hitting 15.7% in August—well above the central bank’s medium-term target of 5%. The IMF forecasts economic growth of 7.8% in 2026 and 7.2% in 2027, though risks such as fluctuating commodity prices, geopolitical tensions, and tighter financing conditions could affect these projections. To maintain financial stability, the IMF urges Rwanda to continue reducing its budget deficit, strengthen revenue collection through its second medium-term revenue strategy (MTRS-2), and prioritize investments supported by external funding. Public debt is currently estimated at 73.1% of GDP in 2026, with a projected decline in the medium term. Other developments in the region include increased offshore oil exploration in Liberia, aimed at finding commercially viable resources. Growth forecasts for nearly three-quarters of sub-Saharan African countries have been raised compared to earlier estimates in April 2026. In Egypt, Chevron is expanding its offshore exploration efforts with the Lotus block. In Nigeria, the arrival of STN, a new telecommunications provider, is expected to boost efforts toward universal access to telecommunications. In Benin, the restitution of 35 new works claimed by the government is underway, alongside a challenge involving a museum project.