budget
Close-up of a Calculator and Pen on a Financial Newspaper. Blue-toned.

The Burundian National Assembly Wednesday unanimously passed the East African country’s 2018 budget bill.

The bill was passed in a plenary session at Kigobe Parliament House in the Burundian capital Bujumbura. The country’s finance minister Domitien Ndihokubwayo was invited to give clarifications to lawmakers about the bill.

Ndihokubwayo said the overall amount of the 2018 budget bill is 1,388.1 billion Burundi francs (790.5 million U.S. dollars).

He said over 80 percent of the national budget will be generated locally.

“We have taken measures aimed at urging the Burundi Revenue Authority to extend its tax base and to boost its fight against fraud and smugglers,” said Ndihokubwayo.

He said the 2018 budget bill has increased up to 4.6 percent from the 2017 budget, adding that the priority of the 2018 budget was given to sectors of defense, security, health, education, agriculture, exploitation of minerals and transport.

Out of the total budget needed, the government plans to collect 1,224.1 billion francs, said the minister.

“The deficit expected to be filled by local resources or donations is estimated at 164 billion Burundi francs,” said Ndihokubwayo.

The budget will serve to carry out development projects including projects in the energy and mining sectors like the construction of three hydropower dams and the construction of a 40-km road in eastern Burundi. Enditem

Source: Xinhua/NewsGhana.com.gh

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