EAC Budget of USD 112.98 Million for the 2024/2025 Fiscal Year Presented

The Minister of East African Community (EAC) Affairs for the Republic of South Sudan, Deng Aloor Kuol, has presented the EAC budget for the 2024/2025 fiscal year to the East African Legislative Assembly.

In his speech to the Assembly, Deng, who is also the Chairperson of the EAC Council of Ministers, urged the Members of Parliament "to discuss and approve the Council of Ministers' proposals regarding the EAC budget for the 2024/2025 fiscal year" under the theme: "Sustainable Economic Transformation Through Financial Strengthening and Investment in Mitigating and Preventing Climate Change for Better Livelihoods."

Deng provided an overview of the region's economic trends, reviewed the implementation of EAC programs for the 2023/2024 fiscal year, outlined priorities for the 2024/2025 fiscal year, presented the Audit Report for the 2022/2023 fiscal year, and the EAC budget for the 2024/2025 fiscal year. He emphasized key priority actions, expected outcomes, budget proposals, and allocations for EAC Organs and Institutions.

In his opening remarks, Honorable Deng acknowledged that the EAC Budget Estimates for the 2024/2025 fiscal year come at a time when the EAC economy "is facing severe global financial and economic challenges," caused by political conflicts and the impacts of climate change. He also noted that high fuel and food prices in the region have increased the costs of accessing financial markets and put pressure on exchange rates and foreign reserves.

Despite these challenges, Honorable Deng stated that the economic performance in the EAC region in 2023 continued to improve, achieving "GDP growth rates ranging from 2.8% to 8.1%." He predicted that member states' economies would continue to strengthen, with economic growth expected to surpass global and Sub-Saharan Africa growth rates of 3.2% and 3.8%, respectively, due to "robust performance in various sectors, supported by sustainable public investment."

Deng highlighted priority programs implemented and key achievements for the 2023/2024 fiscal year in areas such as Regional Security, Private Sector Engagement, Trade Facilitation, Monetary Union Convergence, Technology Innovation, Economic Wellbeing Improvement, Sustainable Agriculture Projects, the EAC Automotive Industry Platform (JAIP), and the implementation of the East African Crude Oil Pipeline Project (EACOP) from Uganda to Tanzania.

The Minister outlined the priorities, allocations, and strategies to enhance Regional Coordination, economic growth, and social development in EAC member states for the 2024/2025 fiscal year as follows:

Regional Peace and Security: USD 5.1 million, 

Trade and Investment Promotion: USD 4.7 million

Institutional Development:USD 10.4 million

Multi-Sectoral Infrastructure Development: USD 6.2 million

Enhancing Social and Productive Sectors:USD 20.3 million

EAC Organs and Institutions: USD 66.3 million

EAC Organs and Institutions received the largest portion of the 2024/2025 fiscal year budget, with allocations as follows:

• EAC Secretariat: USD 51,677,120
• East African Court of Justice (EACJ): USD 4,858,553
• East African Legislative Assembly: USD 20,469,040
• Lake Victoria Basin Commission: USD 7,787,519
• Inter-University Council for East Africa: USD 17,287,618
• Lake Victoria Fisheries Organization: USD 3,109,586
• East African Science and Technology Commission:USD 2,177,192

East African Kiswahili Commission: USD 1,641,445

East African Health Research Commission: USD 2,451,157

East African Competition Authority:USD 1,525,212

This brings the total budget allocation for organs and institutions for the 2024/2025 fiscal year to USD 112,984,442, with USD 67,785,519 (61%) to be funded mainly by member states' contributions and other internal revenues, and USD 43,936,292 (39%) to be funded by Development Partners.

In his closing remarks, Honorable Deng emphasized that this budget for the 2024/2025 fiscal year "represents a strategic approach to fostering sustainable economic transformation through financial strengthening and targeted investment in mitigating and preventing climate change." He urged East Africans to continue leveraging opportunities from the expanded EAC market.

Earlier, during the Assembly’s opening session, EAC Secretary-General Veronica Nduva was sworn in as a Member of the East African Legislative Assembly according to Article 48 of the Treaty. 

After being sworn in, Nduva expressed her heartfelt gratitude to the EAC Heads of State Summit for entrusting her with the role of EAC Secretary-General. She thanked the Republic of Kenya for her effective nomination to the position and acknowledged the role of EALA in the community's operations.

She pledged to work closely with the Assembly "in pursuing critical objectives to strengthen economic integration, enhance political cooperation, and promote social and institutional cohesion." She committed to serving the people of EAC with "integrity, dedication, and unwavering commitment to our shared vision."

Musamali Paul Mwasa, in his welcoming address to the Secretary-General on behalf of the Assembly, reminded her that she is "the focal point, the center, and the accounting officer of the EAC" and that "the people of East Africa are looking up to you to deliver our integration agenda." 

He emphasized that "East African integration is a matter of life, and it is imperative, not a luxury." 

In his closing remarks, he reminded the SG to keep her hands out of the community's coffers. The Assembly is tasked with overseeing community matters and "will not relent" in fulfilling its duty, he stressed.

Dr. Ann Itto congratulated and welcomed the Secretary-General on behalf of the EALA women's caucus, expressing her hope that more women "will be placed in power in other organs and institutions." 

She reminded the Secretary-General of the importance of effectively utilizing "the resources of the EAC people" and ensuring that "the EAC coffers are safe," urging her to address "gender gaps in employment and appointments" within the EAC.