All east African Community member states are supposed to approve their respective budgets in the same period in order to comply with custom duty.
Rwanda, Uganda and Tanzania have approved theirs on 8 June, with Kenya having opted to approve their budget earlier in March in order to match it with preparation of forthcoming presidential elections due in August.
Meanwhile, South Sudan and Burundi have not yet approved their budgets with Burundi reluctant to comply with this EAC regulation.
Rwanda among countries with small budget
With last year figures showing that South Sudan was the country with smallest budget, in exception of Burundi which was reluctant to unveil its budget.
This fiscal year 2017/2018 figures shows that Rwanda comes behind countries such as Kenya, Tanzania and Uganda in the amount of money to be spent in this annual budget.
Kenya leads the line with huge budget equal to 25 billion and169 million US dollars, Tanzania with 14 billion and 21 million USD having spent 13 billion and 500 million last year, Uganda follows with 8 billion and 9 million USD.
Rwanda is on its side expected to use 2 billion and 540 million USD during 2017/208 fiscal year.
Burundi might as well spend 767, 200,311 million USD according to Ikiriho website which publishes Burundi government information. This contradicts daily monitor report which said that Burundi will use the budget of 17 billion USD of all it coming from outside the country.
Salaries and infrastructures will take good portion of budgets
In this year budget that is equal to 2,094.9 million USD with an increase of 140 million USD that is equal to 7% comparing to last year figures. The normal government’s activities are due to cost 54% of the total budget.
In the whole budget 66% shall be from local revenues which is equal to one billion 375 million USD.
With the whole budget a percentage 83 is from the government accounts whereas the remaining 17% shall come from aids and grants.
Announcing the budget, Amb. Claver Gatete, minister of economy and finances, said that 52,9 billion shall be used to increase Rwanda exported products.
Transport shall spend 248.5 billion Rwandan francs, Agriculture 110.5. The sector of energy shall also take 84 billion Rwandan francs in distributing electricity to the citizens.
The Permanent Secretary in the Kenyan ministry of economy and finance, Henry Rotich, noted ,in March 2017, that the 2017/2018 budget shall underscore increase in infrastructures, i.e construction of roads, and increase in value of agricultural product.
The minister of economy and finance ,Philip Mpango, told the parliament that their GDP surpassed that of any other country in East Africa mostly due to the fact that the shilling has had no inflation. He also noted that a great part shall be spent in the sector of infrastructure.
The Ugandan minister of Economy and Finances, Matia Kassaija of Uganda said also that a considerable investment shall be made in farming and exploitation of petroleum especially in Albertini Graben where it was discovered.
click here to receive the updated news on facebook on twitte
Richard wa Billy@Bwiza.com
Your email address will not be published. Required fields are marked *
Copyright © 2014 -2017 - Bwiza.com - All Rights Reserved