The East African Community (EAC) on Friday tabled to the East African Legislative Assembly (EALA) a 97,669,708 U.S. dollars budget for the 2020/21 financial year.
A statement issued by the EAC secretariat from its headquarters in the safari capital Arusha said the budget proposals were unveiled at a sitting held through video conference.
The statement said the EAC Council of Ministers chairperson Nshuti Manasseh from Rwanda tabled the budget proposals, saying the budget estimates were presented at a time when the EAC region as well as the globe was still reeling from the effects of the COVID-19 pandemic, leading to lockdowns and a slowdown in economic activities.
“The impact of the pandemic on EAC partner states, though not yet assessed fully, is no doubt surmounting,” said Manasseh.
He said the EAC budget will complement the efforts of the partner states of Tanzania, Kenya, Uganda, Rwanda, Burundi and South Sudan and development partners to spur economic recovery arising from the COVID-19 disruptions.
Manasseh said the new budget will focus on implementation of several programs, including the consolidation of single customs territory, enhancement of regional industrial development through investment in key priority sectors, skills development, technological advancement and innovation to stimulate economic development.
The statement said the EALA will debate the budget proposals next week.