While Kenya was presenting her Ksh 3.07T budget, other EAC member states including Uganda, Rwanda and Tanzania were also doing the same, a tradition that dates back 11 years.
Uganda’s budget amounted to about Ksh 800 billion, while Rwanda’s and Tanzania’s were at Ksh 281 billion and Ksh 140 billion respectively.
Uganda’s Finance Minister Matia Kasaija presented a 800 billion shillings budget while his Rwanda and Tanzania counterparts presented a 281 and 140 billion shillings budget respectively.
Going with this year’s Industrialization for job creation & shared prosperity” East Africa theme, the Ugandan treasury provided 1.7 billion shillings in the next Financial Year for the Youth Livelihood Programme to fund over 5,000 youth enterprises and benefiting 61,000 youth. Women were also allocated 1.05 billion shillings to support their enterprises.
The Ugandan government is also keen on adding 783MW to the national grid over the next two years in an effort to provide cheap energy for manufacturing.
The minister says they have allocated 16.4 billion shillings to cater for maintenance for national, district, urban and community roads.
The Tanzania budget on the other hand seeks to increase manufacturing with the Tanzanian government lowering corporate tax from 30% to 20% for 5 years on news investments in Pharmaceutical manufacturing and Leather processing.
Tanzania also hiked its tariff on imported crude palm oil for 1 year by 25 percent to boost its domestic production.
However Tanzania lowered its import duty for consumption sugar from 100 percent to 35 percent to cover existing consumption gap. Edible Oil, Safety Matches, Iron products, Chewing gums, Sweets, Chocolates, Tomato sauce, Meat, Sausages, Biscuits and Mineral water taxes were increased.
In Rwanda, Finance Minister, Dr Uzziel Ndagijimana said the Government expects to finance 67% of the 2018-19 budget through domestic resources, 16% through loans and expects 16% to come from grants.
In this financial year Rwanda will prioritize the completion of ongoing projects with domestically financed development projects expenditure set to increase by Ksh 7.6 billion from Ksh 55 billion in the 2017/18 financial year revised budget to Ksh 63.8 billion in 2018/19.