Rwanda parliament approves revised budget

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Paul Kagame
President Kagame

Rwanda’s parliament on Thursday passed the revised national budget proposal for the financial year 2015/2016.

Paul Kagame
Paul Kagame

The new budget comes with a slight adjustment where the budget has been revised upward by 12.8 million U.S. dollars instead of 8. 9 million U.S. dollars which was proposed earlier.
The 3.9 million U.S. dollars increase is attributed to the grant provided by Sweden International Development Agency (SIDA), and the funds will be used to support National Employment Program through creation of additional job opportunities.
Claver Gatete, Rwandan Minister of Finance and Economic Planning said the approved financing adjustments will ensure implementation of the second Economic Development and Poverty Reduction Strategy stays on track.
“The government will borrow more money to fund projects that would otherwise stall due to delays in disbursement of external funding,” Gatete told local journalists.
He noted Rwanda has improved relations with donor countries which have increased aid flow to the country, while others have increased their original contributions.
“The budget is well prepared and in line with the government’s development agenda but we should reduce reliance on foreign aid and focus more on domestic funding,” said MP Constance Mukayuhi Rwaka, the chairperson of the parliamentary Committee on National Budget and Patrimony. Enditem

Source: Xinhua

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