46pc of this year’s budget implemented

The Government has implemented up to 46 percent of its fiscal year budget estimates as of December last year, which is slightly lower than its target, latest figures from the Ministry of Finance show.

The Government has implemented up to 46 percent of its fiscal year budget estimates as of December last year, which is slightly lower than its target, latest figures from the Ministry of Finance show.

The budget deficit is expected to be 1.9 percent of the GDP, for the full-year estimates due to unfulfilled grant pledges.

Out of the projected Rwf148.8 billion expenditures, only Rwf69.2 billion was released representing 47.8 percent, which was spent on salaries.

Out of Rwf237 billion, meant for development projects, only Rwf103.5 billion was spent, representing 43.5 percent.

The lower expenditure is attributed to delays in procurement for development projects and non-expenditure of funds allocated to civil servants salaries due to delays in recruitment.

Government hopes to balance its revenues, subsidies and day-to-day expenditure.

Non-tax revenues underperformed by Rwf6 billion due to transition and delays in conducting driving test examinations, recapitalisation and dividends.

The document says there was a surplus of Rwf6 billion in tax collections, which covered the underperformance of non tax collection at 100 percent.

Government has been able to pay back a sum of Rwf28 billion to the banking system that was borrowed from the Rwanda Stock Exchange.

Reports indicate that 90 percent of the donor money was received between July and December last year.

 

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