Rwanda plans to raise spending in the 2013/2014 fiscal year (July-June) by 7 percent to $2.6 billion and expects to raise about 40 percent of this from external sources, Finance Minister Claver Gatete said on Thursday.
In a budget statement read to parliament, Gatete said a weakening global economy and the on-going euro zone debt crisis could hurt growth in the central Africa country.
The country’s budget will increase by 103 billion Rwandan francs to 1,653 billion francs for the fiscal period starting in July to June next year.
Total domestic revenues for the country, which has one of the fastest growing economies in Africa, will make up 60.2 percent of the budget.
