Hey friends, This is a snapshot of how FY 2013-14 Budget was allocated to National Priorities for your information. Minister Gatete delivers “Striving for self-reliance and dignity” 2013/14 National Budget The Minister of Finance and Economic Planning Ambassador Claver Gatete today delivered the budget for fiscal year 2013/2014. In his speech Minister Gatete noted the total budgeted resources for the 2013/14 fiscal year are RWF 1.653 trillion, which is RWF 103 billion higher than the 2012/13 revised budget. The total domestic revenues for the period are estimated at RWF 994.9 billion which is 60.2% of the total budget. External resources account for only 39.8% of the total budget or RWF 658.6 billion. Total recurrent expenditures are projected at RWF 735.7 billion or 44.5% while development projects account for RWF 802.7billion which is equal to 48.5% of the total budget. Net lending accounts for the remaining 6.9% or RWF 114.8 billion. The amount of RWF 84.4 Billion will be allocated to the completion of Kigali Convention Center. Tax revenue collections are projected to rise by 0.2 per cent of GDP from RWF 641.2 billion (13.7 per cent of GDP) to RWF 749.1 billion (13.9 per cent of GDP). The increase in revenue is expected through taxes on goods and services, which are expected to generate RWF 399.9 billion. “The revenue projections do not envisage any substantial changes in the tax regime,” Minister Gatete told law makers. He noted that projections are underpinned by several on-going as well as new measures to be implemented by the Rwanda Revenue Authority such as e-filing and e-payment, Electronic Single Window and Electronic cargo tracking equipment among others. In consultation with fellow East African Finance Ministers, Minister Gatete noted changes in common external tariffs (CET). Rice in the husk, husked (brown) rice, semi milled or wholly milled as well as broken rice will be charged a CET of 30% instead of 75%. Road tractors for semi-trailers will be charged 0% instead of 10%, Wheat (grain)—CET of 0% instead of 35%. Wheat Flour will be charged 35% instead of 60% Buses for transportation of more than 25 persons 10% instead of 25% buses for transportation of 50 persons and above 5% instead of 25% among others. On the budget allocation and prioritization front, the resource allocation has been aligned to the implementation of the four thematic areas outlined within the EDPRS2. Minister Gatete told law makers that the thematic areas have been allocated 50% of the total budget. The foundational issues have been allocated 37% while the support functions have been allocated the remaining 13%. The economic transformation thematic area has been allocated RWF 459 billion which makes it 28% of the total budget, The rural development has been allocated RWF 164 billion which makes it 10% of the total budget, Productivity and youth employment has been allocated RWF 163 billion of 10 percent. The remaining RWF 41billion which adds up to 2% has been allocated to accountable governance. Key projects and programmes of the economic transformation thematic area include; Construction of 27 megawatt Nyabarongo Hydro Power Station at a cost of RWF 31.8 billion, electricity roll out program: RWF 40.7 Billion, Rehabilitation of Mwityazo -Karongi road: RWF 35 billion, Construction of 4 Provincial Industrial Parks: RWF 4.5 billion Relocation of Gikondo Industrial Park: RWF 4.9 billion, Project for Rural Income through Exports (Price): RWF 8 billion among others. The rural development thematic area encompasses elements of economic affairs, environmental protection, housing and community amenities and social protection. Key projects earmarked for financing include; land husbandry, hillside irrigation and water harvesting for RWF 21 billion, Rural sector support project (Phase III): RWF 5.8 billion, Immediate Action irrigation project at RWF 5 billion, Kirehe watershed management project: RWF 10 billion and National Strategic Food Reserve Project : RWF 2.2 Billion among others. The productivity and youth employment creation thematic area prioritizes the issues of education, skills development, a healthy workforce and job creation. The key projects and programmes that have been allocated resources include; TVET schools, infrastructure development and equipment project: RWF 13.9 billion, expansion and development of the integrated Polytechnic Regional Centre project –RWF 2.9 billion The accountable governance thematic area is centred on addressing three critical priorities, namely increased participation and mobilization in service delivery, improved service delivery and increased public accountability and the promotion of democratic governance. The key projects and programmes that have been allocated resources include National cyber security: RWF 5.7 billion, Statistical Surveys: RWF 9.6 billion support services to LG projects: RWF 1.6 billion and Inclusive participation in governance: RWF 947 million. Regards, Fred.
Posted on: Fri, 14 Jun 2013 05:52:06 +0000
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