• Fri. Jun 14th, 2024

The Cabinet has adopted the draft additional financing for the regional statistics programme for the results of the East African Community

ByWebmaster

May 29, 2024

BUJUMBURA, May 27th (ABP) – The draft additional funding for the East African Community’s regional statistics programme, presented by the Minister of Finance, is one of the seven items on the agenda which was analysed by the Cabinet on Wednesday 22 May under the chairmanship of the Head of State, Mr Evariste Ndayishimiye.

According to a press release issued on the same day and made public by the Secretary General of the State, Jérôme Niyonzima, that project has been initiated for a period of five years, from 2022/2023 to 2026/2027, with funding from the World Bank.

Burundi has just joined the project, receiving a grant of 20 million US dollars. Following analysis, the project was approved, with the recommendation that consideration be given to the possibility of using part of the funds earmarked for capacity building to train students at the Nyamurenza Institute of Statistics.

The Cabinet also examined the draft ministerial ordinance revising the ministerial ordinance of 2 October 2000 regulating royalties of the Palm oil office, which was presented by the Minister of Agriculture. The press release explains that “since 2000, the market price of palm oil has risen steadily, but the royalties collected have never been reviewed, even though they should be adjusted in line with market prices”.

View of members of the government

According to the press release, that is an incentive to review the royalties applied and promote industrial production in order to obtain quality palm oil. The draft ordinance provides for sanctions against those who resist paying royalties, and against those who set up processing units without prior authorisation. At the end of the analysis, it was recommended that realistic tariffs be set and incorporated into the budget law.

Another draft law analysed was the decree creating the Authority for the regulation and control of property transactions (ARCTI), presented by the Minister for Social Housing. The press release states that the introduction of that legal framework “will boost investment in the property sector and limit tax evasion”. With the introduction of ARCTI, real estate transactions will be coordinated through a known legal framework. According to the press release, the bill was adopted subject to a number of substantive and formal adjustments.

In addition, the Cabinet analysed the draft ministerial ordinance on the conditions for private-sector property development in Burundi. In that regard, it is specified that “planning tools place particular emphasis on social housing and the development of decent housing accessible to Burundian citizens on low incomes, and require the commitment of those in charge as well as joint efforts with various stakeholders”. As the town planning, housing and construction code authorises private developers to invest in that area, the Cabinet, which has noted the interest shown by certain property developers and banks, is encouraging the initiative.

Following the analysis, the project was adopted, with one of the recommendations being to ensure that construction complies with town planning standards, according to the same press release.