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

Rwanda plans to increase government budget by 291.7 billion Rwandan francs (about 320 million U.S. dollars) in the next fiscal year, said finance minister Uzziel Ndagijimana on Tuesday.

The budget is projected to increase from 2,585.2 billion Rwandan francs (about 2.9 billion dollars) of the revised budget for fiscal year 2018-2019 to 2,876.9 billion Rwandan francs (about 3.2 billion dollars) in 2019-2020 fiscal year, said Ndagijimana when representing the budget to parliament in Kigali, capital city of Rwanda. External grants are expected to be at 409.8 billion Rwandan francs (about 460 million dollars) while external loans are expected to be at 497 billion Rwandan francs (about 550 million dollars), he said.


The budget for the next fiscal year will reflect the medium term fiscal path, which allows for an increased spending to reach the National Strategy for Transformation goals while maintaining public debt at sustainable levels, he added.


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