• What is UNN?
  • Why UNN?
  • Our Team
  • Support Us
Thursday, September 21, 2023
  • Login
  • Home
  • Featured stories
  • Editors Choice
  • Trending Stories
  • News
  • Africa Today
  • Opinion
  • Literature
  • Videos
  • Sports
No Result
View All Result
  • Home
  • Featured stories
  • Editors Choice
  • Trending Stories
  • News
  • Africa Today
  • Opinion
  • Literature
  • Videos
  • Sports
No Result
View All Result
UNN Times
No Result
View All Result
Home Business

Government Proposes Ugx50trn as Expenditure for Next Financial Year

Ronald Mugabi | UNN Times ReporterbyRonald Mugabi | UNN Times Reporter
December 24, 2022
in Business, Editors Choice, Featured stories, News, Trending Stories, Uganda
0
Government Proposes Ugx50trn as Expenditure for Next Financial Year
3
VIEWS
Share on FacebookShare on Twitter

KAMPALA – Government has tabled before Parliament a proposed Ugx49.9trn National Budget for the financial year 2023/2024.

This indicates a slight increase of Ugx1.85trn up from Ugx48.13trn approved budget for the current financial year 2022/2023.

RELATED STORIES

She Cranes Coach Mugerwa Threatens to Resign over Mistreatment

She Cranes Coach Mugerwa Threatens to Resign over Mistreatment

August 8, 2023
When Museveni Assured Basoga of Subsistence Life

When Museveni Assured Basoga of Subsistence Life

July 16, 2023
When Gun-violence, Brutality Dominated Law Society Report

When Gun-violence, Brutality Dominated Law Society Report

July 15, 2023
Why URA is facing a Parliamentary Probe over Recruitment

Why URA is facing a Parliamentary Probe over Recruitment

July 15, 2023

The figures are contained in the National Budget Framework Paper, which the Minister of Finance, Matia Kasaija tabled before Parliament on Friday.

“The preliminary resource envelope for financial year 2023/2024 is projected at Ugx49.98trn, compared to Ugx48.13trn for financial year 2022/2023. It should however, be noted that whereas the resource envelope has increased by Ugx1.858trn, the discretionary resource envelope reduced by Ugx2.533trn due to the projected increase in the interest obligations and obligation to settle Bank of Uganda redemptions,” reads, Kasaija’s document.

The proposed Ugx49.98trn budget will be financed through domestic revenue equivalent to Ugx28.83trn, budget support amounting to Ugx2.491trn, domestic borrowing Ugx1.585 trn, external project support worth Ugx8.04trn, domestic refinancing of Ugx8.798 trn, and local revenue for local government (AIA) of Ugx238.5b.

According to Kasaija, Government discretionary resources (resource envelope less amortisation, domestic debt payment (Band of Uganda), interest payments, external project support, domestic refinancing, domestic arrears, and local revenue) is equivalent to Ugx22.86trn.

The Budget theme has been maintained as “Full Monetisation of the Ugandan Economy through Commercial Agriculture, Industrialization, Expanding and Broadening Services, Digital Transformation and, Market Access”.

“For purposes of continuity in the realization of our development agenda for socio-economic transformation for all Ugandans, the budget theme is the same as that of this financial year 2022/2023,” said Kasaija.

Kasaija said that the theme is anchored on the overall East Africa Community’s agenda of accelerating economic recovery and enhancing productive sectors for improved livelihoods and in agreement with the Sustainable Development Goals.

He said that government remains committed to supporting initiatives that accelerate and sustain inclusive economic growth without compromising macroeconomic stability, debt sustainability and green growth.

Kasaija said that this will be through several measures such as focusing expenditure on interventions that have high multiplier effects on the economy; import replacement and export promotion; job creation; enhance domestic revenue mobilization and public debt management.

The Minister added that government will further continue to use coherent, cohesive, and well-coordinated fiscal and monetary policies to support economic recovery and to minimize the impact of external economic shocks on Uganda’s economy.

“In financial year 2023/2024, economic growth is expected to strengthen to 5.3 per cent, supported by Government initiatives like the Parish Development Model and EMYOOGA; the pickup in oil sector construction activities; growth in regional trade; and a rebound in agricultural production owing to Government interventions into agricultural productivity,” further reads, the National Framework Paper.

The document further indicates that over the medium term, economic growth is projected to average between six per cent and seven per cent, driven by anticipated increase in productivity within agriculture and manufacturing sectors-supported by Government interventions; recovery in the private sector activity; public infrastructure investments and operations in the oil and gas sector.

Deputy Speaker, Thomas Tayebwa referred the National Budget Framework Paper to the committee on Budget and other relevant sectorial committees for consideration and report back to Parliament by 20th January 2023.

Section 9 (3) and Section 9 (5) of the Public Finance Management Act, 2015 requires the Minister of Finance to submit before Parliament the Budget Framework Paper by 31st December, and by 1st of February, the House should have approved the budget framework paper.

However, the Leader of Opposition Mathias Mpuuga tasked the Minister to equally provide a hard copy of the framework, stating that the last financial year the Minister presented a framework with several changes.

Minister Kasaija committed to avail hard copies of the Framework Paper. He also tabled the certificate of compliance from the Equal Opportunities Commission (EOC).

 

Tags: 20223/24 Budget proposalMatia KasaijaMinister of FinanceNational Budget for the financial year 2023/2024UgandaUgx49.9trn
Previous Post

Drunk Driver Rams Into Army Commander’s Convoy

Next Post

Minister Nabakooba Outlaws Evictions of Bibanja Holders during Festival Season

Related Posts

She Cranes Coach Mugerwa Threatens to Resign over Mistreatment

byMoses Kalaire | UNN Times Reporter
August 8, 2023
0
She Cranes Coach Mugerwa Threatens to Resign over Mistreatment

KAMPALA - The Cranes’ coach Fred Mugerwa has threatened to resign on the Ugandan national netball team returned home from...

Read more

Why the NRM Gov’t Can Never Meaningfully Conserve Uganda’s Environment

byUNN Times Editor | UNN Times Editorial
July 21, 2023
0
Does Environmental Justice in Uganda Matter Anymore?

By Oweyegha-Afunaduula Towards the beginning of the 1980s - the University of Nairobi, Kenya, was the only institute in the...

Read more

Linking Ugandan Society to Military Occupation, Militarisation and Criminalisation

byUNN Times Editor | UNN Times Editorial
July 20, 2023
0
Does Environmental Justice in Uganda Matter Anymore?

By Oweyegha-Afunaduula If you asked me why I decided to link military occupation, militarisation and criminalisation of Uganda’s society, I...

Read more

How to De-nranize Uganda Electoral Processes

byUNN Times Editor | UNN Times Editorial
July 16, 2023
0
Does Environmental Justice in Uganda Matter Anymore?

By Oweyegha-Afunaduula NRA is the abbreviation for National Resistance Army – the rebel group that waged an armed revolt against...

Read more

Bill-gating Science to Conquer God’s great Nature project

byUNN Times Editor | UNN Times Editorial
July 14, 2023
0
Does Environmental Justice in Uganda Matter Anymore?

By Oweyegha-Afunaduula I am sure you have never heard of the verb bill-gating. Well, I have coined it from two...

Read more

Norbert Mao and the Echoes of Opposition Politics in Uganda

byUNN Times Editor | UNN Times Editorial
July 2, 2023
0
Ofwono Opondo on Namuganza Censure, Erias Lukwago and Gen Saleh’s Memo

By Ofwono Opondo The ever jocular Norbert Mao a.k.a. Won kom, and venerable President General of Democratic Party - DP,...

Read more
Next Post
Minister Nabakooba Outlaws Evictions of Bibanja Holders during Festival Season

Minister Nabakooba Outlaws Evictions of Bibanja Holders during Festival Season

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

About us

UNN is a new people powered TV channel, Radio station and Newspaper leading the revolution. We’re a media outlet focused on inspiring and empowering you while telling the truth, because as they say, the truth will set you free.

Recent

She Cranes Coach Mugerwa Threatens to Resign over Mistreatment

Why the NRM Gov’t Can Never Meaningfully Conserve Uganda’s Environment

Linking Ugandan Society to Military Occupation, Militarisation and Criminalisation

The Concept of types of Knowledge and its Integration

Of Ugandans’ Craziness for Modernisation

Advancing Science in African Universities through Integration Experience

Follow Us

Tweets by GetUNN

Facebook

© 2023 UNN Times

No Result
View All Result
  • Home
  • Featured stories
  • Editors Choice
  • Trending Stories
  • News
  • Africa Today
  • Opinion
  • Literature
  • Videos
  • Sports

© 2023

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
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.