{"id":64950,"date":"2024-02-09T14:50:22","date_gmt":"2024-02-09T14:50:22","guid":{"rendered":"https:\/\/www.africa-press.net\/rwanda\/all-news\/govt-to-increase-public-spending-by-rwf85bn"},"modified":"2024-02-09T16:11:55","modified_gmt":"2024-02-09T16:11:55","slug":"govt-to-increase-public-spending-by-rwf85bn","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/rwanda\/economy\/govt-to-increase-public-spending-by-rwf85bn","title":{"rendered":"Govt to increase public spending by Rwf85bn"},"content":{"rendered":"

Africa-Press – Rwanda. <\/strong><\/span>Government expenditure in the financial year 2023\/2024 will be increased by Rwf85.6 billion, or 1.7 per cent, to Rwf5,115.6 billion, up from the 5,030 billion approved by Parliament in June 2023, according to the Ministry of Finance and Economic Planning (MINECOFIN).<\/p>\n

While presenting the 2023\/2024 national budget revision proposals to Parliament, on Thursday, February 8, the Minister of Finance, Uzziel Ndagijimana, said that the adjustment was based on the budget execution during the first half of the fiscal year, which stood at 61 per cent at end of January 2024 and the financial needs until end of June.<\/p>\n

Proposed changes in expenditure<\/p>\n

Ndagijimana indicated that the proposed additional funding was distributed based on financing needs to ensure effective execution of the financial plan.<\/p>\n

Recurrent spending is anticipated to increase by Rwf12.2 billion, from the Rwf2,901.4 billion allocated in the initial budget, to Rwf2,913.6 billion, Ndagijimana pointed out.<\/p>\n

\u201cOverall, this increase will support different initiatives including addressing a gap in public servants\u2019 salary, funding activities related to the elections of the President of the Republic and Members of Parliament, addressing a gap in monthly living allowances meant for the economically vulnerable demobilised combatants, as well as filling a gap in the finance allocated to [Rwanda\u2019s] embassies especially because of the new ones,\u201d he said, referring to recurrent expenditure.<\/p>\n

Minister of Finance, Uzziel Ndagijimana presenting the 2023-2024 national budget revision proposals to Parliament, on Thursday, February 8. Courtesy<\/p>\n

Capital spending \u2013 funding meant for implementation of development projects \u2013 will be allocated an extra Rwf83.7 billion, increasing it from Rwf1,894.7 billion as set in the initial budget envelope to Rwf1,978.3 billion, Ndagijimana told lawmakers. As explained, this too is as a result of new funding and various adjudgments made to funding allocations to different projects that receive allotments from national budget.<\/p>\n

The increment was channelled to various activities including agriculture; especially to subsidise chemical fertilisers, and infrastructure, to pay compensations for properties damaged by infrastructure projects, Ndagijimana said.<\/p>\n

Economy displays strong signs of recovery<\/p>\n

Meanwhile, the minister said that despite persistent challenges stemming from the effects of the Covid-19 pandemic, global supply chain disruptions, an inflationary environment, and the impact of climate shocks, the economy continues to display strong signs of recovery.<\/p>\n

\u201cWith a 7.6 per cent growth over the first three quarters of 2023, surpassing projections, this budget revision reflects our successes and the effectiveness of the economic recovery plan in sustaining businesses, attracting new investments, generating employment, and ensuring robust social protection for vulnerable citizens,\u201d he observed.<\/p>\n

For More News And Analysis About Rwanda<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Rwanda. Government expenditure in the financial year 2023\/2024 will be increased by Rwf85.6 billion, or 1.7 per cent, to Rwf5,115.6 billion, up from the 5,030 billion approved by Parliament in June 2023, according to the Ministry of Finance and Economic Planning (MINECOFIN). While presenting the 2023\/2024 national budget revision proposals to Parliament, on […]<\/p>\n","protected":false},"author":84,"featured_media":64949,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24,15,29],"tags":[760,763,758],"class_list":["post-64950","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-head-lines","tag-africa-press","tag-africa-press-rwanda","tag-rwanda"],"yoast_head":"\nGovt to increase public spending by Rwf85bn - Rwanda<\/title>\n<meta name=\"description\" content=\"Government expenditure in the financial year 2023\/2024 will be increased by Rwf85.6 billion, or 1.7 per cent, to Rwf5,11 ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/rwanda\/economy\/govt-to-increase-public-spending-by-rwf85bn\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Govt to increase public spending by Rwf85bn\" \/>\n<meta property=\"og:description\" content=\"Government expenditure in the financial year 2023\/2024 will be increased by Rwf85.6 billion, or 1.7 per cent, to Rwf5,11 ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/rwanda\/economy\/govt-to-increase-public-spending-by-rwf85bn\" \/>\n<meta property=\"og:site_name\" content=\"Rwanda\" \/>\n<meta property=\"article:published_time\" content=\"2024-02-09T14:50:22+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-02-09T16:11:55+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/rwanda\/sites\/23\/2024\/02\/sm_1707481408.876376.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1000\" \/>\n\t<meta property=\"og:image:height\" content=\"666\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/rwanda\/economy\/govt-to-increase-public-spending-by-rwf85bn#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/rwanda\/economy\/govt-to-increase-public-spending-by-rwf85bn\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/rwanda\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Govt to increase public spending by Rwf85bn\",\"datePublished\":\"2024-02-09T14:50:22+00:00\",\"dateModified\":\"2024-02-09T16:11:55+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/rwanda\/economy\/govt-to-increase-public-spending-by-rwf85bn\"},\"wordCount\":425,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/rwanda\/economy\/govt-to-increase-public-spending-by-rwf85bn#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/rwanda\/sites\/23\/2024\/02\/sm_1707481408.876376.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Rwanda\",\"Rwanda\"],\"articleSection\":[\"all news\",\"Economy\",\"head lines\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/rwanda\/economy\/govt-to-increase-public-spending-by-rwf85bn#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/rwanda\/economy\/govt-to-increase-public-spending-by-rwf85bn\",\"url\":\"https:\/\/www.africa-press.net\/rwanda\/economy\/govt-to-increase-public-spending-by-rwf85bn\",\"name\":\"Govt to increase public spending by Rwf85bn - 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