KIGALI
Rwanda’s spending will go up by 24% in the 2009/10 fiscal year compared to 2008, to stimulate the economy and safeguard against the global slump.
Finance minister James Musoni presented the budget to Parliament on the same day as East African neighbours Kenya, Uganda and Tanzania for the first time as Kigali aligned its fiscal timetable with the rest of the region.
Spending will increase to Rwf838b ($1.47b), 3% more than the Rwf812.4b proposed in the draft budget released in April.
Recurrent expenditures will be Rwf481b, and development spending Rwf342b. The remainder goes on net lending and arrears payment, according to the budget documents.
The minister predicted 5-6% GDP growth for 2009, compared to 11.2% in 2008.
Domestic revenues would hit Rwf368b ($645m), with donor budget support at 41%.
- Reuters
Rwanda aims at stimulating economy
