• Contact Us
  • About Us
  • Advertise
  • Donate
  • Login
Watchdog Uganda
Advertisement
  • Home
  • News
    • National
    • Politics
    • World News
    • Sports
      • Football
      • Motorsport
  • Business
    • Agriculture
    • Finance
    • RealEstate
    • Technology
  • Op-Ed
  • Entertainment
    • Lifestyle
    • Showbiz
    • Big Brother Naija Dairy
  • People
    • Entrepreneurs
    • Stars
    • Politicians
  • Special Report
    • Education
  • Travel
  • Video
  • Luganda
No Result
View All Result
  • Home
  • News
    • National
    • Politics
    • World News
    • Sports
      • Football
      • Motorsport
  • Business
    • Agriculture
    • Finance
    • RealEstate
    • Technology
  • Op-Ed
  • Entertainment
    • Lifestyle
    • Showbiz
    • Big Brother Naija Dairy
  • People
    • Entrepreneurs
    • Stars
    • Politicians
  • Special Report
    • Education
  • Travel
  • Video
  • Luganda
No Result
View All Result
Watchdog Uganda
No Result
View All Result

Museveni’s Press Secretary reveals what should be done to manage Uganda’s rising public debt

Mulema Najib by Mulema Najib
1 month ago
in National, News
6 0
Mr. Faruk Kirunda

Mr. Faruk Kirunda

ShareTweetSendShare

The Deputy Presidential Press Secretary Faruk Kirunda has said Uganda would not have accumulated the over Shs73 trillion public debt if the public sector used the available funds optimally.

Mr Kirunda says by utilizing the available funds well, avoiding wastage and corruption, the East African country will not be suffering and trying to forge ways on how it will repay back the multi-trillion debt.

“We would not be in this situation if the public sector used available funds optimally by avoiding wastage and corruption. Money should be used for what it is allocated to do. Increased production and equitable tax mobilisation would also alleviate the problem,” he tweeted on Saturday.

Mr Kirunda’s advice follows a revelation by Parliament on Friday that Uganda’s public debt increased by a whopping 15 per cent from 2020 to December 2021, to the last recorded Shs73.5 trillion.

Debt is expected to continue rising, with projections it will get to over 52 per cent of GDP, according to Budget Committee Chairperson, Patrick Opolot Isiagi.

“Public debt is on the rise and projected to reach 52.9 per cent of GDP in 2022/23 and the country’s debt sustainability metrics are characterized with slow export growth and increasing debt service,” Opolot told legislators as Parliament passed a Shs48.1 trillion budget for financial year 2022/23 with post Covid-19 economic recovery high on the agenda.

The Finance State Minister, Henry Musasizi, who shepherded the Budget on behalf of President Yoweri Museveni said there is need to heal the economy from the ravages of Covid-19.

“This budget of financial year 2022/23 will mark the recovery for this economy; our economy has been affected by shocks such as the Covid-19 pandemic, the regional geo-political conflicts, climate change…these developments affected government’s financial position through the reduction in government revenue,” said Musasizi.


Do you have a story in your community or an opinion to share with us: Email us at editorial@watchdoguganda.com

Share1Tweet1SendShare

Related Posts

Allan Bamuha
News

ALLAN BAMUHA: PDM & other development programs set to move Uganda to a First World Country

3rd July 2022 at 17:10
Kabaka Ronald Muwenda Mutebi II during his Birthday run 2022
National

Abstinence is the most effective way to fight HIV/AIDS- Kabaka Mutebi

3rd July 2022 at 14:13
The Toyota Prado, the late Yesse Mubangizi Kamanyire was travelling in
National

Grief as Nile High School Mukono founder dies in Masaka Road accident

3rd July 2022 at 12:19
Next Post
Alex Esagala

Photo journalist Alex Esagala lands juicy job at Parliament

Follow us on Facebook

Trending Posts

  • The late Samuel Majwega

    MK Publishers Proprietor Majwega dies from USA where he had gone to attend daughter’s graduation ceremony

    65 shares
    Share 26 Tweet 16
  • LATEST LIST: New salary structure for all Ugandan civil servants starting July 2021

    838 shares
    Share 335 Tweet 210
  • First Son Muhoozi reveals what he will do to his enemies trying to disorganise his relationship with President Museveni 

    25 shares
    Share 10 Tweet 6
  • Ugandans on Social Media up in the arms over judicial officers’ incompetence, misconduct 

    11 shares
    Share 4 Tweet 3
  • Businessman Sudhir puts his magnificent One-10 Apartments up for sale

    34 shares
    Share 14 Tweet 9

Follow us on Twitter

Facebook Twitter

Contact Information

Watchdog Uganda is a portal for solution journalism, trending news plus cutting edge commentaries in the fields of politics, security, business, tourism, entertainment, technology, agriculture, climate change, environment, public health et al. We also give preference to Ugandan community news and topical discussions. The portal also publishes community news and topical discussions.

Plot 23, Yusuf Lule Road
PO Box 7661 Kampala, Uganda
Office Line: +256 777 286 815
Email: editorial@watchdoguganda.com
To Advertise:Click here

Follow us on Twitter

Follow us on Facebook

© 2022 Watchdog Uganda

No Result
View All Result
  • Home
  • News
    • National
    • Politics
    • World News
    • Sports
      • Football
      • Motorsport
  • Business
    • Agriculture
    • Finance
    • RealEstate
    • Technology
  • Op-Ed
  • Entertainment
    • Lifestyle
    • Showbiz
    • Big Brother Naija Dairy
  • People
    • Entrepreneurs
    • Stars
    • Politicians
  • Special Report
    • Education
  • Travel
  • Video
  • Luganda

© 2022 Watchdog Uganda

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Posting....