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Advancing Inclusive Economic Transformation Through Strategic Public Investment
Advancing Inclusive Economic Transformation Through Strategic Public Investment
December 2, 2025
This policy brief provides an in-depth analysis of Rwanda’s FY2025/26 National Budget, examining its role in advancing inclusive economic transformation through strategic public investment. The budget adopts an expansionary fiscal stance, reflecting the Government’s commitment to accelerating growth while strengthening resilience to global and domestic shocks.
Anchored in the National Strategy for Transformation (NST2) and Vision 2050, it prioritizes domestic resource mobilization, productive infrastructure, human capital development, and institutional effectiveness. Significant investments are directed toward agriculture, infrastructure, education, health, social protection, and digital governance, with a strong focus on job creation, youth and women empowerment, and leaving no one behind. The brief highlights opportunities arising from strategic borrowing, green and digital transformation, regional integration, and public–private partnerships.
At the same time, it identifies key risks related to public debt sustainability, implementation capacity, and external economic shocks. The analysis concludes with policy recommendations aimed at strengthening fiscal sustainability, equity, climate responsiveness, and development impact.
