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Rwanda to increase spending by 11% in 2024/25, finance minister says

Rwanda to increase spending by 11% in 2024/25, finance minister says

RWANDA plans to increase its overall spending by 11% to 5.69 trillion Rwandan francs ($4.43 billion) in the next financial year starting in July, its finance minister said. A total of 1.32 trillion francs in the draft 2024/25 budget would come from external loans, Finance Minister Uzziel Ndagijimana said, without giving details on what kind of borrowing the government was considering. In all, 3.86 trillion francs would be from domestic revenues and another 725.3 billion francs from external grants, he added as he presented the draft budget to parliament. Rwanda, like other members of the East African Community trade bloc,…
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‘SA should spend to end blackouts’

‘SA should spend to end blackouts’

SOUTH Africa should not shy away from spending to fix the country's power crisis, its electricity minister told Reuters, ahead of a cabinet decision later this month on his proposals to end the worst power blackouts on record. Kgosientsho Ramokgopa, appointed last month to the newly created role, was speaking in an interview less than two months after the National Treasury granted state utility Eskom 254 billion rand ($13.81 billion) of debt relief over the next three years. President Cyril Ramaphosa's government has made repeated attempts to improve power availability but failed to make progress. Ramokgopa's appointment is the latest effort to…
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