EAC Tables USD 97.6M budget proposals to EALA for 2020/2021 Financial Year
…debate on Budget takes place next week
East African Legislative Assembly, Arusha, Tanzania: 25 September, 2020: The EAC has presented to the East African Legislative Assembly, the long-awaited Budget estimates for the Financial Year 2020/2021, totaling $97,669,708, at a sitting held via virtual conference. The Chairperson of the EAC Council of Ministers and State Minister for EAC, Republic of Rwanda, Hon Prof Nshuti Manasseh, presented the EAC Budget Speech this afternoon as the budget session got underway.
The 2020/2021 Budget is themed: “Stimulating the economy to safeguard livelihoods, jobs, businesses and industrial recovery.” According to the Chair of Council of Ministers, the Budget estimates are presented at a time when EAC region as well as the globe is still reeling from the effects (and after-effects) of the Covid 19 pandemic, leading to lockdowns and a slowdown in economic activities. “The impact of the Pandemic on EAC Partner States, though not yet assessed fully, is no doubt surmounting”, the Minister said. He reiterated the EAC Budget would complement the efforts of Partner States and development partners to spur economic recovery arising from the Covid19 disruptions.
