The Minister of Finance and Economic Planning Dr. Uzziel Ndagijimana, today presented to Parliament the draft 2019-2020 revised budget. This is in accordance with Article 41 of Organic Law N°12/2013/OL of 12/09/2013 on State Finances and Property.
Addressing members of Parliament, Minister Ndagijimana pointed out that the budget revision process had been informed by the economic and budget performance for the first six months of 2019/20 fiscal year.
Revised Budget Projections
In his statement, Minister Ndagijimana told parliamentarians that the budget was projected to increase to Frw 3,017.1 billion from Frw 2,876.9 billion approved in the original budget, reflecting a net increase of Frw 140.1 billion.
Revenues
The Minister pointed out that domestic resources are projected to increase by Frw 75.7 billion from Frw 1,726 billion to Frw 1,801.9 billion.
Spending
Government will rise its total spending by Frw 140.1 billion from Frw 2,876.9 billion to Frw 3,017.1 billion. The expenditure envelope has been revised to reflect the changes under recurrent spending, capital expenditure and net lending outlays.
The recurrent expenditure is expected to increase by Frw 124.1 billion from Frw 1,424.5 billion in the original budget to Frw 1,548.6 to cater for salaries for newly recruited health staff and promotion of medical staff, operationalization of the newly established embassies, community health-based insurance subsidies, milk support program under the National Early Childhood Development Program as well as planned international sports activities.
Capital expenditure is expected to increase by Frw 4.0 billion from Frw 1,152.1 billion to Frw 1,156.2 billion. Net lending will increase by Frw 13 billion from original Frw 244.1 billion to Frw 257.2 billion.
The Minister further informed the parliamentarians that the revised budget for 2019/20 was part of the revised medium term macro-economic framework that aims to continue the implementation of National Strategy for Transformation (NST1).
