Gatete unveils 2017/18 Budget today

The Minister for Finance and Economic Planning, Amb. Claver Gatete, today presents the 2017/18 financial year National Budget before a joint chamber of Parliament. A Cabinet meeting chaired by Prime Minister Anastase Murekezi on Tuesday approved the draft law determining state finances for 2017/18 financial year, which put the National Budget at Rwf2 trillion. The Budget is expected to be domestically financed at 66 per cent compared to 62.4 per cent for the closing financial year. The 2017/18 Budget Estimate shows a significant rise from the Rwf1,954.2 billion in 2016/17 to Rwf2,094.9 billion. According 2017/18 Budget Framework Paper, the new Budget is committed to fiscal consolidation and prudent borrowing policy to keep the level of debt sustainable. “The sectoral allocation of resources has taken into consideration that 2017/18 will be the last year of implementing the second Economic Development and Poverty Reduction Strategy and, thus priority was given to key intervention areas to help achieve the targets,” reads part of the framework paper. Other partner states of the East African Community are also expected to read their respective budgets today. editorial@newtimes.co.rw

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Gatete unveils 2017/18 Budget today