Economic Transformation Key To Eac Countries’ Budgets, Says Report

The finance ministers of Tanzania, Uganda, and Rwanda have simultaneously unveiled their 2023/24 expenditure plans as per the East African Community (EAC) treaty. Tanzania has the second-highest budget after Kenya, with a Tsh 44 trillion budget equivalent to Ksh 2.5 trillion, up 7% from last year. Uganda announced a 52 trillion Ugandan shillings budget equivalent to Ksh 1.9 trillion, an increase of Ksh 37 million in spending compared to FY2022/23. Rwanda’s finance minister unveiled a 5 trillion Rwandan Franc budget equivalent to Ksh 612 billion, representing a 6% increase from the previous year’s budget. Burundi tabled its budget estimate on Tuesday, while South Sudan passed a Ksh 1.9 trillion budget but is yet to be approved by Parliament. The Democratic Republic of Congo is yet to adjust its budget reading in harmony with the EAC.