Members of Parliament are discussing Budget for Fiscal Year 2018/19. The Budget Framework Paper for year 2018/19-2020/21 is being discussed between MPs of National Budget and Patrimony Committee.
The discussions are also attended by Governor Mureshyankwano Marie Rose with District Mayors.
Rwanda’s economy has been growing by 5.9% in 2016 to 6.2% in 2017 and projected to scale up by 6.8% in 2018.
This positive growth has been cushioned by an improvement in the agriculture sector from food crops and export crops following the ongoing investments in fertiliser, improved seeds and irrigation.
On Tuesday Dr Uzziel Ndagijimana, the new Finance Minister presented a Budget Framework Paper (BFP) to parliament (both chambers) and said that Rwanda intends to spend Rwf2.4 trillion in Fiscal Year 2018/19.
This ambitious budget is projected to create a total of 216,717 jobs through the National Employment Programme while hands-on skills will be enhanced to match the demands of the labour market.
Domestic revenues (both tax and non tax) are projected at Frw 1508.7 billion representing 62% of the total 2018/19 budget.
Once this money is released to finance various sectors, Finance Minister Dr. Ndagijimana was very optmistic that Rwanda Economy will thus grow by 7.2% in 2019.