Ndagijimana yesterday presented the Budget Framework Paper and the midterm budget estimates to Parliament, outlining Government’s economic policies over the medium term that help lay the foundations of the next fiscal budget.
Under the next fiscal year, according to Ndagijimana, government will continue to promote import substitution and diversify exports with the aim of reducing the exposure to external shocks and imbalances over the medium term.
“The implementation of Made in Rwanda policy will continue to play a key role in narrowing the current account deficit in the short to long run and help to consolidate private sector domestic activities, create jobs and boost economic growth,” he said.
Domestic revenues, both tax and non-tax are projected at Rwf1508.7 billion representing 62% of the total 2018/19 budget.
Under the next year budget, the external grants are estimated at Rwf396.3 billion equivalent to 16% of total budget while external loans are projected at Rwf400.9 billion representing 16% of total budget.
Domestic loans are projected at Rwf137.7 billion representing 6% of total budget. On the expenditure front, the recurrent budget is projected at Rwf1,305.7 billion.
Development expenditure is estimated at Rwf897.1 billion while net lending is projected at Rwf190 billion which will be used to finance key government projects such as construction of Bugesera airport, expansion of Rwandair operations among others.
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