Matia Kasaija, Uganda’s minister for Finance has on Thursday, June 13 presented the 2019/20 national Budget in Kampala.
The Shs34.3 trillion budget is an increase of Shs2 trillion from the current financial year.
Of the Shs34.3 trillion, domestic revenue collections are expected to generate Shs18.3 trillion, according to National Budget Framework Paper.
The economy itself has registered a slight growth from 5.8 to 6.1 per cent in the current financial year, the National Budget Framework Paper for 2019/2020-2023/2024 indicates.
The Committee on Budget attributed the increase to activities of the private sector.
“The rebounding of economic growth has been attributed mainly to increased private sector activity, significant growth in the services sector, recovery in agricultural growth from the previous drought,” said MP Amos Lugoloobi, the Committee Chairperson in January.
On projections for the next Financial Year, the Health budget is reducing from Shs2.3 trillion to Shs2.2 trillion. Education is equally facing a cut from Shs2.7 trillion from shs2.6 trillion. Ministry of Works takes Shs6.46 trillion
Treasury will take Shs9.5 trillion while Security’s budget is set to decline from Shs2 trillion to Shs1.9 trillion.
Agriculture is getting an increment from Shs892 billion to Shs919.8 billion.
Here are the key sectors:
– Energy and mineral development
– Works and transport
– Information, communication and technology
– Water and environment
– Employment and socio-economic empowerment
– Justice, law and order
Live details to follow