KIGALI, April 28 Rwanda plans to increase
government spending by 7 percent in the 2017/18 (July-June)
fiscal year to 2.09 trillion francs ($2.53 billion), the finance
minister said on Friday.
Claver Gatete told parliament while presenting the draft
budget that 17 percent of the budget will be funded by donors
with the rest coming from revenue and debt.
The government expected to collect 1,316.8 billion francs in
revenue during the year, the minister said.
"Our export revenues are expected to increase by 21.6
percent mainly due to 40 percent increase of tea revenues and 23
percent increase from mineral earnings," he said.
The government planned to set aside 757.2 billion francs to
spend on development, up from 741.9 billion francs this fiscal
year, he said. The cash will be used to buy strategic stocks for
food security and construction of dams.
Gatete said the budget would also include funding for a
national election scheduled for August, in which President Paul
Kagame will be seeking a third term.
Rwanda's economy is expected to grow 6.2 percent in 2017 and
6.8 percent in 2018 while inflation is expected to be at 7
percent by the end of 2017 and edge down to 5 percent in 2018,
($1 = 824.8100 Rwandan francs)
(Reporting by Clement Uwiringiyimana; Editing by Angus MacSwan)