Finance Minister has announced an increase in revenue and expenditure for the 2024/25 fiscal year, raising the total budget from Frw 5,690.1 billion to Frw 5,816.4 billion. This adjustment was presented by Minister Yusuf Murangwa, during his address to Parliament on the revised budget proposal.
The revisions aim to align resources with emerging national priorities, enhance public service efficiency, and support economic resilience amid global uncertainties.
“Rwanda’s economic growth remains strong despite global challenges such as climate change, inflation, and geopolitical tensions,” he said.
This resilience is reflected in the solid growth recorded in the first three quarters of 2024. The Government will continue to maintain macroeconomic stability and promote inclusive growth by investing in agriculture, climate change mitigation, infrastructure, education, healthcare, and social protection,” Minister Murangwa stated.
Key Changes in the 2024/25 Revised Budget
•Overall Budget Increase: The total budget will rise by Frw 126.3 billion, from Frw 5,690.1 billion to Frw 5,816.4 billion.
•Revenue Adjustments: While tax revenue projections have been revised downward by Frw 20 billion, this shortfall will be offset by higher privatization proceeds and additional external concessional loans.
•Development Budget Increase: The development budget will increase by Frw 80.6 billion, from Frw 2,007.3 billion to Frw 2,087.9 billion, covering both foreign and domestically financed capital projects.
•Recurrent Budget Adjustments: The recurrent budget will increase by Frw 45.7 billion, from Frw 3,682.9 billion to Frw 3,728.5 billion, mainly due to higher pension contributions.
The 2024/25 revised budget is part of the Government’s medium-term macroeconomic framework. Authorities will closely monitor economic performance indicators and make necessary adjustments to ensure the effective implementation of the budget while maintaining macroeconomic stability.
