16 June 2012

Rwanda: Investment News Round-Up

The government's dependence on foreign aid through external direct budget support, loans and grants has been scaled down to 46%, all the way down from 85% dependency in 2000.

This represents a halving of dependence rates over the last decade, lending credence to the vision of a self-sustainable Rwanda in the foreseeable future.

This among other facts is to be unveiled before lawmakers of both chambers of parliament this afternoon (Thursday) by the Minister of Finance and Economic Planning, John Rwangombwa, in the lead up to the official reading of the National Budget 2012-2013. All budgets of East African Community (EAC) member countries will be read on the same day.

Minister Rwangombwa will showcase how government plans to continue reducing donor dependence while maintaining economic growth and the drive towards middle-income status of the country.

Infrastructure development has been mooted as a top priority by the government, and is evidenced by the 23% of the budget being allocated to this sector, up from 21% in last year's budget.

This will cover for the construction and rehabilitation of over 460Km of roads, adding 30MW to the national grid, and scaling up investment projects in local governments to Rwf79 billion, compared to Rwf25 billion in the previous year.

Human development and social cluster takes the largest share with a 32.7% budget allocation. It covers education, health, social protection, recreation, culture and religion.

Copyright © 2012 Rwanda Express. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.

AllAfrica publishes around 2,000 reports a day from more than 130 news organizations and over 200 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.