Kigali, Rwanda – The state budget for the fiscal year 2024-2025 is set to see a significant increase of 11.2%, as presented by the Minister of Finance and Planning, Dr. Ndagijimana Uzziel. The proposed budget, amounting to 5,690.1 billion Rwandan Francs (Frw), marks an increase of 574.5 billion Frw compared to the revised budget of 5,115.6 billion Frw for 2023-2024.
Dr. Uzziel presented the bill to both houses of the Parliament, highlighting the government’s strategic focus on enhancing public services and infrastructure to drive economic growth and stability. This budget aims to address key areas such as healthcare, education, and infrastructure development, ensuring a better quality of life for all Rwandans.
The income from the country will constitute 60% of the budget, equivalent to 3,414.4 billion Frw. Foreign grants will contribute 725.3 billion Frw, representing 12.7%, while loans will amount to 1,318.1 billion Frw, accounting for 23% of the budget. With internal revenue and private loans making up 83.2% of the total budget, Rwanda demonstrates a significant degree of budget sufficiency.
“This budget increase is a strategic move to ensure we can continue to provide essential services and invest in long-term projects that will drive economic growth and development,” stated Dr. Uzziel. The budget will allocate substantial funds to the healthcare sector, aimed at improving facilities, expanding access to services, and ensuring adequate medical supplies. The education sector will also benefit, with funds directed towards building new schools, enhancing teacher training, and providing necessary learning materials to support quality education.
Infrastructure development is a critical focus, with planned projects including road construction, public transportation enhancements, and improvements to water and sanitation systems. These projects are expected to create jobs and improve overall infrastructure, facilitating easier business operations and economic activities.
In addition to these sectors, the budget will support social programs aimed at reducing poverty and assisting vulnerable populations. This comprehensive approach is designed to ensure that the benefits of the budget increase are widely felt across all segments of society.
Economic analysts have welcomed the budget increase, noting that it comes at a crucial time as the country seeks to recover from the economic impacts of recent global challenges. The increased spending is expected to stimulate economic activity and provide a much-needed boost to various sectors.
The government has assured that the budget increase will be managed prudently, with a focus on transparency and accountability. Measures are being put in place to ensure that funds are used effectively and that the intended projects are completed on time and within budget.
Overall, the 11.2% increase in the state budget for 2024-2025 signals a positive and proactive approach by the Rwandan government to meet the needs of its citizens, invest in critical areas of development, and drive economic growth for the future.
