BUJUMBURA, April 29th (ABP) – The Cabinet met on Wednesday 17 April 2024 in Gitega, under the chairmanship of the President of the Republic of Burundi Evariste Ndayishimiye. A press release issued by the Secretary General of the State, Jérôme Niyonzima, states that the report on the implementation of the State budget for the 2nd quarter of 2023-2024 was adopted at that meeting and presented by the Minister of Finance, Budget and Economic Planning.
According to the press release, the execution of the State budget for the 2nd quarter of 2023-2024 coincided with the 2023-2024 budget review in December 2023. The State budget for the second quarter of 2023-2024 was also implemented at a time when the economic situation was facing considerable challenges, including the continuing disruption of global supply chains and the scarcity of foreign currency.
The domestic resources earmarked to finance that quarter’s activities amounted to 468.97 billion BIF. The actual figure was 516.75 billion Burundi francs, a performance of 110.19%, driven mainly by tax revenues. As for expenditure, the ceiling for the second quarter was set at 697.36 billion Burundi francs, while the total amount executed was 518.7 billion Burundi francs, representing an achievement of 74.38%. After analysis, the report was adopted, subject to a number of recommendations.
At the same meeting, the 2024-2027 public investment program document was adopted and presented by the same finance minister. Burundi has adopted a new approach to public finance management in which performance is the driving force.
To operationalize that approach, ministries and institutions have been instructed to switch to program budget mode. It was against that backdrop that the Ministry of Finance felt it imperative to review the approach to drawing up the public investment program, with the aim of linking it to the new guidelines adopted for results-based programming and budgeting.
The 2024-2027 public investment program ensures that investment projects are aligned with development priorities and targets set out in the Burundi Vision 2040-2060, the revised national development plan and sectoral policies and strategies.
The 2024-2027 public investment program distinguishes between 4 types of projects: projects in progress, new projects approved, projects in preparation and project ideas. Of the 348 projects counted, 167 are “in progress”, 37 have the status of “new projects approved”, 101 “projects in preparation” and 43 have the status of “project ideas”. The budget resource requirements expressed by the ministries are estimated at 3,976.01 billion BIF in 2024-2025, 5,477.16 billion BIF in 2025-2026 and 7,271.55 billion BIF in 2026-2027, making a total of 16,724.73 billion BIF over the 3 years of the public investment program. Domestic resources would remain the main source of funding for public investment over the period 2024-2025, at 81.55%.
After discussion and debate, the document was adopted with a number of observations. They need to ensure that all projects or project ideas have been taken into account. It is also necessary to prioritize the rehabilitation of former industrial companies that have gone bankrupt, to set aside a budget line for project studies by ministry, to start construction work on the former Bujumbura central market, and to identify public infrastructure to be rehabilitated, including boarding schools.