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Rwanda’s govt adopts $3.4bln post-Covid budget for 2020-21

Wednesday, 24 June 2020 11:47
Rwanda’s govt adopts $3.4bln post-Covid budget for 2020-21

(Ecofin Agency) - Rwanda’s Minister of Finance, Uzziel Ndagijimana (pictured), presented, on June 22, to lawmakers the 2020-21 draft budget adopted by the government to revive the economy in a post-Covid cotext. For the next year starting July 1st, the Rwandan government eyes a $3.4 billion budget.

The new budget aligns with the country’s economic recovery plan after the pandemic and will be mainly directed towards supporting businesses most affected by the crisis. Under the new spending plan, the government wants to extend its support measure to 550 new businesses.

Of the budget, 40% or $1.3 billion, will go for development projects (more than half of which will be financed locally). $791.5 million will benefit health and education, $136.2 million will be used to implement social programs, while $16.8 million will be used to create at least 205,500 new jobs.

In total, 60.5% of the budget will come from local resources, and about 39.3% from external aid. For the next fiscal year, the government expects to collect $1.4 billion in tax revenues, $154.9 million less than in 2019/20.

Moutiou Adjibi Nourou

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ECOFIN AGENCY offers a selection of articles translated from AGENCE ECOFIN. Founded in 2011, Agence Ecofin is a leader in Francophone Pan-African economic news, particularly in West and Central Africa. The agency publishes daily news on nine African economic sectors: Public Management, Finance, ICT, Agribusiness, Energy, Mining, Transport & Logistics, Communication, and Training.

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