East African countries had their entire budget read on the same day with issues of the revised revenue and expenditure estimates for the financial Year 2012/2013 and proposals for the estimates of revenue and expenditure for the Financial Year 2013/2014.
Kenya earmarked a total of Kshs 1.6 trillion (Ugs 48 trillion) budgets under the theme: Transformation for shared prosperity. While presenting the budget Kenya’s Treasury cabinet secretary to the National treasury Henry Rotich he allocated Transport shs 125 billion Energy shs.78.5 billion, ICT shs 9.5 billion and education and technology shs 130 billion.
Rwanda earmarked a total budget of RWFr 1,653 billion( UGX 6612 billion) which was slightly higher by RwFr 103 billion in the 2012/2012 budget.Presenting the budget Finance Minister Claver Gatete allocated RWF 63 billion for roads and for RWF 111 billion for energy.
Tanzanians will have to spend a little more as the government moves to collect taxes t Boast its chances of funding the lions share of the budget with domestic capital.
Appearing before parliament yesterday Finance minister William Mgimwa said the money collected from domestic sources in 2013/14 will be 20.2 per cent of the gross domestic product up from 17.7 per cent in 2012/2013.
Government is to collect a record sh 11.154 trillion in domestic revenue( both tax and non tax) to finance the 2013/14 sh18.2 trillion
He adds that to achieve these goals the government would have to reduce some tax exemptions.