National

2009/10 Budget: Expenditure to grow by 24 %

•Excise duty on airtime increases to 5 percent •Domestic Revenues to generate 51 percent Rwanda’s annual budget will increase by 24 percent in the 2009/10 financial year as government takes bold steps to boost growth amidst a turbulent global economic situation. Finance and Economic Planning Minister, James Musoni presented budget to parliament highlighting four pillars of expenditure; infrastructure roll out, maintaining growth in productive sector, development of human capital and promotion of good governance. Musoni said government spending would increase to Rwf838 billion during this financial year compared to Rwf674 billion spent in 2008. For the first time, internal resources financing the budget have slightly surpassed external remittances.
The Minister of Finance and Economic Planning James Musoni at the Perliament to present the Budget yesterday.(Photo/ G.Barya).
The Minister of Finance and Economic Planning James Musoni at the Perliament to present the Budget yesterday.(Photo/ G.Barya).
Arthur Asiimwe