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
• Global coffee consumption projected to hit a record 169.4 million 60-kg bags in 2025/2026, up from...
• Algeria grants commercial 5G licenses to top three telecom operators: Mobilis, Djezzy, and Ooredoo...
• Investors seem to keep focusing on yields, which are high for the moment• New Leadership might see...
• Kenyan President William Ruto signs strategic partnership with UK Prime Minister Keir Starmer to b...
• IFC teams up with AfDB and Nigeria’s EbonyLife to assess a new fund for African cinema• Sector cou...
The Tropical Forest Forever Facility, an initiative supported by the BRICS nations, aims to reward countries for preserving their forests. This presents a...
In preparation for establishing a National Center for Economic and Strategic Intelligence in Cameroon, agents from the General Directorate of External...
• Qatar Airways and Kenya Airways establish strategic agreement, introducing a third daily flight between Doha and Nairobi. • Part of wider Qatari...
• The third Africa-Spain summit aims to strengthen trade relationships, with bilateral trade totaling approximately $35 billion in the first half of...
The Gerewol tradition is a fascinating ritual celebrated by the Bororo Fulani, a nomadic community primarily located in Chad and Niger. This annual...
In northern Ethiopia, in the Tigray region, lies Axum (also spelled Aksum), an ancient city that once stood at the heart of one of Africa’s most powerful...