• Fri. Jul 19th, 2024

Budget not used during the first quarter of the 2023-2024 budget year are canceled

ByWebmaster

Nov 10, 2023

BUJUMBURA, November 10th (ABP) – Cabinet members meeting on November 6, 2023 in Kirundo province, under the chairmanship of the Head of State, Evariste Ndayishimiye, made it known that “The budget not used during the 2023-2024 first quarter are canceled and they can be allocated to another budgetary program of another ministry or to another constitutional institution”, according to the press release issued at the end of the meeting.

The Cabinet members made that decision when they were looking into the analysis of the expenditure commitment ceilings for the 2nd quarter of 2023-2024. The analysis stipulated that during the 2023-2024 budgetary management, “the rate of commitment of expenditure will depend on the rate of revenue”. At the end of the analysis, the bill was passed.

The Cabinet members also analyzed and approved the note on the Support Project for the Digital Economy Foundation (PAFEN). According to the conclusions, the PAFEN project, which entered into force in February 2023 and financed by the World Bank to the tune of 50 million dollars, is in the process of completing the preparation of an additional financing project of 42 million dollars financed by the World Bank, an additional amount which will finance the activities of the digitalization component of public finances, according to the content of the press release. With this amount, PAFEN will have an envelope of $92 million for a period of 6 months. After analysis, the Cabinet members approved that additional funding while recommending, among other things, the establishment of a technical digitalization team.

The Cabinet members finally analyzed the information note on the conditionalities of the African Development Bank (AfDB) on the Uvinza-Musongati railway construction project. The AfDB has agreed to grant a amount of $100 million to Burundi as part of the said project. According to the Cabinet members, a meeting of the AfDB board of directors is scheduled for December 2023 and it is on this occasion that this project will be approved.

However, before this meeting takes place, certain commitments must be fulfilled. This concerns, among others, the Musongati mining concession, by communicating to the AfDB the name of the company which submitted the best offer as an indicator of non-return movement towards the materialization of this concession, accompanied by a provisional program for the mining. The note recommends that the government of Burundi take all measures so that the selection process for the next operator of the Musongati mines is concluded within the required time framework, to avoid delaying the implementation of that project, according to the press release.