KIGALI – The Rwandan Parliament has approved the proposal by the Government to increase public spending for this fiscal year by Rwf141 billion (UGX575b), The New Times, has reported.
While the previous budget was slightly more than Rwf2.4 trillion, the revised budget, approved Monday February 11, is slightly above Rwf2.5 trillion.
According to the daily, government proposed to increase the budget late last month during a Cabinet meeting and went ahead to seek Parliament’s approval.
Rwandan minister for Finance and Economic Planning, Uzziel Ndagijimana, said the money to cater for increased public spending will be raised through taxes and non-tax revenues, which exceeded government forecasts in the first half of the fiscal year.
Rwanda is increasing spending in order to support key projects in infrastructure, education, agriculture, and healthcare among other sectors.
“We would like to allocate the money for priority activities in key sectors such as education, agriculture, and new government agencies,” Ndagijimana told The New Times last month.
The small East African country plans to finance the current budget by 68 per cent through domestic resources, 16 per cent through loans, and 16 per cent through grants.