Rwanda on Wednesday proposed a budget of 3.8 trillion Rwandan francs (about 3.79 billion U.S. dollars) for the 2021/22 fiscal year that starts July 1 to drive economic growth and revive the economy following shocks from the COVID-19 pandemic.
The budget, which represents a 9.8 percent increase from the revised budget of the current fiscal year 2020/21, will be guided by the National Strategy for Transformation program 2017-2024 and economic recovery efforts against the effects of COVID-19 pandemic, said Minister of State in charge of the National Treasury Richard Tusabe when presenting the budget virtually before the parliament in the capital city of Kigali.
Domestic resources will finance 67 percent of the entire budget and the remaining 33 percent will be funded through external sources, said Tusabe.