Rwanda: public finances

What is Rwanda's budget for 2026/27?

Rwanda's budget for 2026/27 is Frw 7,796.3 billion, 12% more than the revised 2025/26 budget of Frw 6,952.1 billion, according to the Ministry of Finance and Economic Planning, which presented it to Parliament on 11 June 2026.

Domestic revenue is expected to cover Frw 5,273.8 billion, with Frw 548.3 billion in external grants and Frw 1,974.1 billion in external loans. Spending splits into Frw 4,785.5 billion of recurrent and Frw 3,010.8 billion of development spending. By pillar, economic transformation takes 63%, social transformation 22% and governance 15%. Rwanda's fiscal year runs from July to June.

Official sources: MINECOFIN: Budget for 2026/27

What is the budget deficit of Rwanda?

Rwanda's budget deficit fell to 4.8% of GDP in the 2025/26 fiscal year, according to the Ministry of Finance and Economic Planning, in its statement on the first review of the IMF Extended Credit Facility. On a calendar-year basis, the IMF World Economic Outlook puts the general government deficit at 4.4% of GDP in 2025 and projects 3.6% for 2026.

The government says it will prioritise fiscal consolidation, supported by its second Medium-Term Revenue Strategy, to keep Rwanda at moderate risk of debt distress. The two sources differ because Rwanda's fiscal year runs from July to June.

Official sources: MINECOFIN: IMF first review statement · IMF DataMapper: Government net lending/borrowing, Rwanda

What is the public debt of Rwanda?

Rwanda's gross government debt was 64.7% of GDP in 2025, according to the IMF World Economic Outlook, which projects 63.4% for 2026 and 2027. It was 61.6% in 2023 and 63.4% in 2024.

The 2026/27 budget plans Frw 1,974.1 billion of external loans, according to the Ministry of Finance. Gross debt is measured at nominal value and includes debt of the central government; the ministry publishes an annual debt management strategy.

Official sources: IMF DataMapper: General government gross debt, Rwanda · MINECOFIN: Budget for 2026/27

What is Rwanda's debt to GDP ratio?

The latest figure from the IMF, for 2025, is 64.7% of GDP. Its high point since 2005 was 2020, at 66.7% of GDP; its low point was 2008, at 18.5% of GDP. It is 16th highest of 46 in Sub-Saharan Africa, where the median is 53.0% of GDP. Worldwide: 65th of 185.

What is Rwanda's fiscal deficit?

-4.4% of GDP: that is general government net lending or borrowing in Rwanda for 2025, according to the IMF, which is a deficit. Since 2005 it has ranged from -9.3% of GDP (2020) to 1.1% of GDP (2005). Sub-Saharan Africa median: -3.0% of GDP; Rwanda is 34th highest of 47. Of 188 countries with 2025 data, 137th highest.

How much revenue does Rwanda's government raise?

In 2025, general government revenue in Rwanda was 18.9% of GDP, according to the IMF. It is the bottom of the series, which starts in 2005. It is 20th highest of 47 in Sub-Saharan Africa, where the median is 18.4% of GDP. Of 187 countries with 2025 data, 136th highest.

What is Rwanda's government spending?

In 2025, general government spending in Rwanda was 23.3% of GDP, according to the IMF. Its high point since 2005 was 2020, at 32.5% of GDP; its low point was 2005, at 19.9% of GDP. Sub-Saharan Africa median: 20.8% of GDP; Rwanda is 18th highest of 46. Worldwide: 126th of 186.

What is Rwanda's tax to GDP ratio?

In 2024, central government tax revenue in Rwanda was 12.7% of GDP, according to the IMF. No year since 2014 has been lower. It is 9th highest of 16 in Sub-Saharan Africa, where the median is 14.1% of GDP. Worldwide: 71st of 92.

How much does Rwanda spend on its military?

SIPRI puts military spending in Rwanda at 1.3% of GDP in 2025. Its high point since 2005 was 2005, at 1.7% of GDP; its low point was 2012, at 1.0% of GDP. Across Sub-Saharan Africa the middle value was 1.3% of GDP, and Rwanda placed 23rd highest of 44. Worldwide: 95th of 149.