Kigali, February 12, 2026 – The Minister of Finance and Economic Planning, Yusuf Murangwa, has presented a revised Frw 6,952.1 billion national budget for the 2025/26 fiscal year to Parliament, trimming overall spending while significantly increasing allocations to development projects.
The revised budget reflects a reduction of Frw 80.4 billion from the initially approved Frw 7,032.5 billion. The adjustment follows the government’s move to secure more affordable concessional and domestic financing for major national investments.
Reduced borrowing through improved financing
According to the minister, improved financing arrangements for the New Kigali International Airport project and the rescheduling of a loan repayment by RwandAir to the next fiscal year significantly eased pressure on public finances.
Together, these measures reduce the need for budgetary loans by Frw 645.4 billion, strengthening Rwanda’s fiscal position and lowering borrowing requirements.
“This revision reflects prudent fiscal management,” the minister said. “By securing better terms for major investments and managing cash flows wisely, we strengthen our fiscal position while protecting spending.”
Revenue performance improves
On the resource side, projected tax and other revenues have been revised upward by Frw 41 billion, reflecting sustained economic activity and confidence in domestic revenue mobilisation.
At the same time, the recurrent budget has been revised downward by Frw 198 billion to Frw 4,114.9 billion, mainly due to adjustments in the public debt profile, subsidies and spending on goods and services.
Capital investment prioritised
Despite the overall budget reduction, investment in capital and development projects has increased by Frw 353.2 billion to Frw 2,115.8 billion. The increase is expected to sustain momentum in infrastructure development and implementation of national priorities.
The government said it will continue to closely monitor economic performance to ensure effective budget execution and maintain macroeconomic stability throughout the fiscal year.
