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East African States Table Budgets For 2018/19

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East African States Table Budgets For 2018/19

As a tradition that dates back 11 years as part of the regional integration process, member states of the East African Community bloc are scheduled to table their respective Budgets on Thursday.

The EAC secretariat has been challenging its member countries to align with key sectors driving growth.

Rwanda will present a Rwf2.4 trillion budget – the smallest compared to the neighbouring economies.

Uganda is expected to outline a budget size of an estimated Ush30.9 trillion (Rwf 7.725 trillion).

Tanzania will present a Tsh32.4 trillion budget almost Rwf 16.2trillion.

Kenya announced it will use a Rwf24.56trillion budget which is larger than those of Uganda, Tanzania and Rwanda combined.

Inside Rwanda Budget

According to Finance Minister Uzziel Ndagijimana, the Government expects to finance 67% of the 2018-19 budget through domestic resources, 16% through loans and expects 16% to come from grants.

He also said that the total domestic resources are estimated at FRW 1,645.1 billion, which accounts for 67% of the total budget and this shows an increment of FRW 232.3 billion compared to FRW 1,412.8 billion in the 2017/18 revised budget.

The country is also expected to collect projected Tax revenue worth FRW 1,351.7 billion, which show an increment of FRW 151.4 over the revised budget figure of FRW 1,200.3 billion.

Ndagijimana said that non- tax revenue is projected at FRW 155.7 billion, which is FRW 17.5 billion higher than the FRW 138.2 billion in the revised 2017/18 budget.

Rwanda estimates that its total grants will scale up to FRW 396.3 billion compared to FRW 352.9 billion in the revised budget of 2017/18 while total external loans are estimated at FRW 402.2 billion in 2018/19 compared to FRW 349.7 billion in the 2017/18 revised budget.

For Ndagijimana, the country’s recurrent expenditure is projected to increase by FRW 135.4 billion from FRW 1,130.7 billion in the revised budget of 2017/18 to FRW 1,226.1 billion in 2018/19 fiscal year.

Meanwhile, Development budget and Net Lending is estimated at FRW 1,126.6 billion in 2018/19 from FRW 960.5 billion in the 2017/18 revised budget representing FRW 166.1 billion increase.

The budget also captures domestically financed development projects expenditure as set to increase by FRW 68.3 billion from FRW 481.3 billion in 2017/18 revised budget to FRW 549.6 billion in 2018/19.

The minister however, noted that with this increase, the priority is to complete ongoing projects and to finance the new ones as planned in the National Strategy for Transformation.

 

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