Kampala, Uganda | THE INDEPENDENT | The Uganda economy is projected to grow by 3.1 percent this financial year, according to the Ministry of Finance, Planning and Economic Development. Before the outbreak of COVID-19, the government had projected the economy to grow by 6.3 percent, but this was disrupted when Uganda and …
Read More »Finance ministry allays fear of new USD 900 million IMF loan
Kampala, Uganda | THE INDEPENDENT | The Ministry of Finance, Planning and Economic Development has said the new $900 million (about 3.1 trilling Shilling) loan government plans to borrow from the International Monetary Fund -IMF will not cause a substantial increase of Uganda’s rising public debt. Responding to questions at Uganda Media …
Read More »IMF says Uganda has requested for yet another loan
Kampala, Uganda | THE INDEPENDENT | The Washington based International Monetary Fund (IMF) has revealed Uganda government approached it for another loan and discussions are progressing well. The IMF spokesperson Gerry Rice yesterday revealed that Uganda requested for a three-year loan arrangement. The loan could be in the range of $900 …
Read More »FDC urges Ugandans to rise against new taxes, increasing public debt
Kampala, Uganda | THE INDEPENDENT | The opposition Forum for Democratic Change (FDC) has implored Ugandans to rise up against some of the newly approved taxes by parliament and the increasing public debt. Recently, parliament approved a Shillings 100 levy on a litre of petrol and diesel. Harold Kaija, the Deputy …
Read More »MPs want affirmative action funds seperated from parish model program
Kampala, Uganda | THE INDEPENDENT | Parliament has yet again deferred the proposal by the government to introduce a Parish development model that seeks to empower Ugandans economically in the 10,594 parishes. The model is a strategy being fronted by the Government in the next financial year for organizing and delivering public …
Read More »Ministry of finance on the spot over non compliance of public finance management act
Kampala, Uganda | THE INDEPENDENT | Parliament’s Budget Committee has faulted officials from the Ministry of Finance for undermining the Public Finance Management Act provisions while presenting an additional budget of 3.4 trillion Shillings for the financial year 2021/2022. The additional budget presented to the Committee on Monday has increased the …
Read More »Budget committee directs minister Kasaija to fund judiciary
Kampala, Uganda | THE INDEPENDENT | Parliament’s Budget Committee has questioned the Minister of Finance Matia Kasaija on the low funding to the Judiciary despite a recent directive by President Yoweri Museveni for a 800 billion Shilling budget allocation. Kasaija on Monday appeared before the Committee to present the 3.48 trillion additional …
Read More »Gov’t allocates 200 million to each MP for a vehicle
Kampala, Uganda | THE INDEPENDENT | Government has revised downwards the budget for procurement of new vehicles for Members of the 11th Parliament by Shillings 121 million for each legislator. This brings the allocation to Shillings 200 million from the initially requested 321 million per MP by the Parliamentary Commission as per …
Read More »Why national budget was reduced to UGX 41.3 trillion
Kampala, Uganda | THE INDEPENDENT | The Ministry of Finance, Planning and Economic Development has explained why the budget has been reduced by 4.3 trillion shillings for the 2021/2022 financial year. Although last year’s financial year budget was 45.5 trillion shillings and the projections for the financial year, 2021/22 was at 45.66 …
Read More »Gov’t increases security budget for next 3 years
Kampala, Uganda | THE INDEPENDENT | Uganda’s security budget will increase for the next three years according to the Ministry of Finance. This is already reflected in the 41.3 trillion shillings budget, the government has tabled for the financial year 2021/2022 in which governance and security takes a lion share of 7.7 …
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