Home / Knowledge / News / Textiles / Textiles & garments receive boost in Rwandan Budget
Textiles & garments receive boost in Rwandan Budget
14
Jun '16
Courtesy: Ministry of Finance and Economic Planning, Government of Rwanda
Key priority sectors like textiles, garments and leather received a major boost in 2016-17 National Budget presented by Rwandan minister for finance and economic planning Claver Gatete to a joint Parliamentary session last week.
 
“High priority will be given to economic activities which will either increase export revenues or reduce import volumes. The identified key sectors for fostering economic activity include textiles, garments and leather industry, agriculture export crops, agri-business, construction, livestock, wood industry, minerals, tourism and ICT and trade and investment facilitation,” minister Gatete said.
 
The Budget allocated 27 per cent of Frw 1949.4 billion ($2.49 billion) in the 2016-17 fiscal year to economic transformation with key focus on textiles, garments and leather industry, agriculture export crops, agri-business, construction, livestock, wood industry, minerals, tourism and ICT and trade and investment facilitation.
 
“The 2016-17 Budget theme 'Fostering growth while increasing exports and boosting made in Rwanda goods and services' signals government's resolve to tackle diminishing commodity prices and rising import bill that have adversely affected export earnings and put pressure on foreign exchange reserves,” said Gatete in his Budget speech.
 
The Budget announced increase in taxes on used products entering the local market. This includes an increase in tax on used clothes from $0.2 per kg to $2.5 per kg. (RKS)
 

Fibre2Fashion News Desk – India


Must ReadView All

APTMA decries duties on cotton imports in Pakistan

Textiles | On 17th Jul 2018

APTMA decries duties on cotton imports in Pakistan

The All Pakistan Textile Mills Association has termed the...

Luis Quijano

Textiles | On 17th Jul 2018

US varsity student cultivates bacterial cellulose in lab

Luis Quijano, a student at the Liberty University in Lynchburg,...

SAARC Development Fund plans cross-border e-comm platform

Apparel/Garments | On 17th Jul 2018

SAARC Development Fund plans cross-border e-comm platform

SAARC Development Fund (SDF), the cross-border umbrella financing...

Interviews View All

Top executives
Textile & apparel bodies

The mid-term review of FTP is progressive, growth oriented

Manfred Mentges
Sedo Treepoint GmbH

We see a higher demand in colour management systems, as customers see big...

DK Sharma
Velocity Apparelz

We constantly communicate with employees at all levels

Rajat Jaipuria

Activewear brand Soul Space promotes organic cotton farming and...

Abhishek Pachauri

Reckon Industries adapts latest systems for manufacturing from designing...

Anupam Arya

<div>Jaipur-based Fabriclore Retailing Pvt. Ltd. is attempting to revive...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Samar Firdos
Arvind Ltd

<b>Samar Firdos</b>, Chief Manager (Design) at Lifestyle Apparel Denim...

Sidharth Sinha
Sidharth Sinha

<b>Sidharth Sinha</b> has contributed to the successful rebirth and...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


July 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search