Kampala, Uganda | THE INDEPENDENT | The International Monetary Fund-IMF, has given Uganda a clean bill of health regarding the handling of the COVID-19 pandemic, the funds and the economy as a whole. For this, the Fund’s board has allowed for the immediate release of 127 million US Dollars (about 455 …
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Kampala, Uganda | THE INDEPENDENT | Civil Society Organisations have called on government to establish a clear allocation formula for funds under the Parish Development Model (PDM), while considering different demographic dynamics to promote equity. Julius Mukunda, the Executive Director at the Civil Society Budget Advocacy Group (CSBAG) said despite Shs465.48 billion …
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Kampala, Uganda | THE INDEPENDENT | The Civil Society Budget Advocacy Group (CSBAG) has asked the Committee on Finance, Planning and Economic Development to alter the Income Tax (Amendment) (No.2) Bill, 2021 to allow government levy windfall tax on a monthly basis. In its current state, the Bill that is being scrutinised …
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Kampala, Uganda | THE INDEPENDENT | Civil Society Organizations have cautioned that allowing the Uganda National Oil Company (UNOC) to retain petroleum revenue will mark the beginning of an oil curse in Uganda. They have now asked the finance committee of Parliament to reject a proposal by the government to have UNOC …
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Kampala, Uganda | THE INDEPENDENT | Clauses in the East African Crude Oil Pipeline (Special Provisions) Bill, 2021 have rattled a section of civil society organisations over concessions and tax exemptions in the proposed legislation. During an appearance before the Committee on Environment and Natural Resources, Julius Mukunda, the Executive Director …
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Kampala, Uganda | THE INDEPENDENT | The Civil Society Budget Advocacy Group (CSBAG) has proposed the establishment of a fiscal council to oversee taxation and expenditure of public funds. According to the International Monetary Fund (IMF), the fiscal council is an independent public institution set up by the government to evaluate …
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Kampala, Uganda | THE INDEPENDENT | The Central Bank has challenged the Ministry of Finance, Planning and Economic Development against the current high rates of borrowing, saying they are putting the country and the economy at risk. The national debt burden is currently estimated at UGX 64 trillion as of December …
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Kampala, Uganda | THE INDEPENDENT | At the time of the inauguration of a new cabinet in 2016, President Yoweri Museveni, who had been in power for 30 years back then, boasted that Uganda was on the cusp of achieving lowe-middle-income status This is a term used by the World Bank …
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Kampala, Uganda | THE INDEPENDENT | The Ministry of Finance has unveiled a new Medium-Term Debt Management Strategy (MTDS), aimed at ensuring value for money from the loans that are being borrowed for the next financial year. The plan specifies how the government plans to structure its debt portfolio in the …
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Kampala, Uganda | THE INDEPENDENT | Julius Businge | For the first time in many years, Uganda’s national budget will increase by a paltry Shs164bn in FY2021/22, meaning government will not spend a lot on delivering services to the population. According to the Budget Framework Paper (BFP) for FY2021/22, the total …
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