Rwandan Parliament has, on Tuesday, approved the relevance of the draft bill modifying and complementing the law n°30/2017 of 29/06/2017 of the 2017-18 Revised budget bill which is due to increase by 6.6 from the previous annual budget approved by the parliament in June last year.
Members of Parliament have, in their plenary sitting approved the relevance of the draft bill, after following and making their queries on a presentation on the 2017-2018 budget bill delivered by Claver Gatete, Minister for the Ministry of Economy and Finance.
The newly approved 2017-2018 budget draft bill shows an increase of Rwf 6.6 in the overall budget totaling 2,115.4 billion from 2,094.9 billion approved by Parliament in June and due to be spent in the course of the 2017-2018 annual budget. The minister has linked the increase to the need to cover salaries and expenditures of the newly operating public agencies and ministries and added the change will also affect the resources and expenditure of the budget.
Domestic revenues are expected to increase by a net of Frw 37.5 billion. Thus, a total amount of Rwf 1,375.4 billion indicated from original budget to 1,412.9 of the annual budget bill under examination. As from the total annual budget bill under examination, external revenues are expected to slash low by 16.9 thus, a total of 702.6 billion from Frw 719.5 billion of the current budget in expenditure resulting from lower depreciation of Rwandan currency against US dollar.
Government projects as for RwandAir expansion and the restructured of government investment in Mariott Hotel will prompt the government to raise its net lending budget by 18.7 billion i.e. Frw 159.1 billion in the original budget to Frw 178 billion in total to 2017-2018 annual budget.
The Express News