Butambala County Member of Parliament who also doubles as the shadow minister of Finance Muhammad Muwanga Kivumbi has claimed the National Budget reading scheduled for today Tuesday, is not going to give any hope to Ugandans because it’s not pro-people.
Kivumbi revealed that the largest portion of the money in the budget has been allocated on purchasing guns and paying debts whereas the livelihoods of Ugandans in such a difficult economic time are ignored.
“Most of the monies have been allocated into buying guns. In such a time where prices of commodities are high, how do you think of buying guns when the people you want to protect are dying of hunger? The other biggest portion has also been taken to pay debts, yet most of the debts we get are helping only a few clique of people! Therefore in today’s budget apart from the Parish Development model that has only been given one Trillion Shillings, there is nothing else that is pro-people,” the opposition legislator said.
Kivumbi added that the budget soon to be read has focused more on protecting the regime in power instead of protecting and provide for ordinary Ugandans.
As the constitution commands, today at Kololo Independence grounds, the Minister of Finance is going to read the National Budget that amounts to over Shs47 trillion and 130 billion shillings.
The 2022/23 budget soon to be read has increased by Shs3trillion and 317billion shilling. In this coming Financial Year government is to collect revenues of Shs25trillion and 789 billion shillings, an increase from Shs22trillion and Shs837billion from this Financial Year ending this month.
Out of the Shs48trillion and Shs130b, government is going to borrow Shs20trillion and of which Shs12 trillion and Shs973bn is to be borrowed from domestic financial institutions such as National Social Security Fund (NSSF) and some banks while Shs7trillion and Shs165bn is to be borrowed from China,World Bank and others.
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