Rwanda’s Finance Minister, Yusuf Murangwa, announced plans to increase government spending by 21% in the upcoming fiscal year, bringing the total budget to 7 trillion Rwandan francs ($5 billion). The funds will support key projects, including the construction of a new international airport in Bugesera and initiatives to enhance agricultural productivity, electricity access, education, and healthcare. To boost revenue, the government introduced new tax measures, such as excise duties on cigarettes and beer, a tourism tax, and reinstated value-added tax on certain items like fuel. Domestic sources are expected to finance 58% of the budget, with external loans covering 31%. Rwanda’s economy is projected to grow by 7.1% in 2025 and 7.5% in 2026, reflecting the government’s focus on stabilizing debt and building economic resilience.
— new from Reuters
