Economic transformation will take the lion’s share in the Rwf 3,245.7 bn of 2020-2021 fiscal year’s budget that was presented to the parliament by Minister of Finance and Economic Planning Dr. Uzziel Ndagijimana on Monday.
Government plans to spend Rwf 3,245.7 billion in the 2020/2021 Fiscal year, an increase of Rwf 228.6 billion compared to Rwf 3,017.1 billion in the 2019/20 revised budget.
Economic Transformation pillar will take Rwf 1,802 billion (55.5 %) of the total budget. The social transformation will take up Rwf 960.4 billion (29.6%) while Transformational Governance is allocated Rwf 482.7 billion (14.9% )of the total budget.
“Government’s expenditure policies in fiscal year 2020/21 are guided by National Strategy for Transformation priorities and objectives while ensuring appropriate allocation by promoting made in Rwanda to reduce trade deficit and build economic resilience,” the Minister said.
Priority areas agreed during the planning and budgeting consultations which formed the basis for resource allocation in the 2020/21 fiscal year include “Strengthening health system by increasing access to quality health services for all.”
As Rwanda is battling the COVID-19, the budget will promote employment through investment in public infrastructure. support businesses affected by COVID-19 to recover, boost their business and contribute to the national economic growth.
It will also support Made in Rwanda policy to reduce the trade deficit and build economic resilience.
The budget will also promote digital infrastructure and technologies to improve service delivery, improve access to quality education and continue to work on eradication of malnutrition and stunting.
The country is also prioritizing efforts to strengthen disaster preparedness and management.