The revised budget increased to 4.7 trillion Rwandan francs in the 2022-2023 national budget from 4.6 trillion Rwandan francs announced in the original budget in June 2022, according to the minister.
"The increase will cater for key recurrent expenditures, including recruitment of more teachers and their salaries, supporting universal school feeding program, and additional fertilizers to boost coffee production," Ndagijimana told parliament in Kigali, the capital city of Rwanda.
"The revised budget will support continued economic recovery, supplement job creation efforts, and continue to facilitate businesses to recover from COVID-19 impact," he said.
The minister added that the revised budget that will run up to the end of the financial year ended June contains several important adjustments such as a 5 percent rise in domestic revenues.
Tax revenue will increase by 5.1 percent while non-tax revenue is also expected to increase owing to the continued recovery through increased internally generated revenue streams, he said.
Ndagijimana noted that despite persistent challenges stemming from COVID-19, global supply chain issues, the inflationary environment and climate shocks, Rwanda's economy continues to show strong signs of recovery.
In the first three quarters of 2022, the country's economy registered an 8.5 percent growth, according to the minister.
"This budget revision reflects these successes, and the effectiveness of the economic recovery plan in keeping businesses afloat, encouraging new investments, creating jobs, and maintaining strong social protection for vulnerable citizens," he said.
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