On May 10th, 2024, the plenary sitting of the Senate convened to approve the Senate's recommendations on the Budget Framework Paper for the fiscal year 2024-2025 and the medium-term period covering 2026-2027.
Senators found that the proposed medium-term budget for 2024/25-2026/27 aligns with the nation's commitment to accelerating development. The budget aims to support the implementation of key principles. It projects a Gross Domestic Product (GDP) growth of 8.2% in 2023, followed by growth rates of 6.6% in 2024, 6.5% in 2025, 6.8% in 2026, and 7.2% in 2027. This growth is primarily attributed to ongoing development in the service sector, agriculture, and investment.
Regarding the 2023/2024 budget, Senators noted that 88% of the revised budget has been expended, indicating that the remaining funds will be utilized as planned.
The Senators also emphasized specific priorities for the 2024/2025 state budget, urging increased allocation of funds in key areas:
Transportation: Senators recommended augmenting the budget for infrastructure, particularly roads that facilitate access to markets for farmers and breeders.
Energy: They advised increasing funding in this sector to ensure universal access to electricity and water for all residents.
Genocide Memorials: The Senators urged the government to continue integrating and maintaining memorials commemorating the Genocide against the Tutsis, underscoring the importance of preserving history and educating future generations.
School Infrastructure: They urged the government to prioritize the provision of more infrastructure for schools, aiming to enhance education and support future technological advancements.
Furthermore, the Senators affirmed that the medium-term budget draft for 2024/2025-2026/2027 is in line with the country's development objectives. They highlighted that the budget allocation adheres to the fundamental principles outlined in Article 10 of the Constitution of the Republic of Rwanda.