By; Jjunju Francis

The Minister of Finance, Planning and Economic Development has presented the National Budget for the next financial year 2018/19 expected at 32 Trillion

The budget taken under the theme; Industrialization for Job Creation and Shared Responsibility centering on three priority areas; commercialization agriculture, financing of private sector and industrialization.

Transport and works still takes the lion’s share of 4.8 trillion, Education 2. 8 trillion, Health 2.3 trillion, 1.3 Trillion for water and sanitation and Agriculture said to be engaging over and above 70% of the country’s population has been allocated 914 billion shillings only.

Part of the bigger budget for the Transport and works is to revive the national air line that is to resume operations next year to boast competitiveness, movement of tourists among other benefits.

The minister in charge Matia Kasaija while presenting the budget at Serena Conference Center boasted of tremendous achievements in economic growth largely because of infrastructural development, energy and agricultural support and security.

This helped the national economic to growth from 3.6% to at least 5.8% and in the next financial year growth is projected at 7%.

He however said althouht the country economy stands at UGX 104 trillion, poverty levels especially in the rural areas has increased from 22% to 25% because of low economic exports from the areas to the market.

The Uganda Shilling also weakened in the last two months because of increase of oil prices at the world market and high demands for construction materials.

On the domestic debt Kasaija said the existing debt of around UGX 39 trillion is still sustainable. Almost half of the budget will be realized from the local revenues and the rest from development partners.

Kasaija said ICT is another important area that cannot be ignored because it another driver to the economic development and has allotted it UGX 149 bn.

Security and judicially are anther areas that have to be fully respected to ensure security and dispensing of justice. In this area he has promised money for CCTV cameras and payment of salaries.


Friday 15th June 2018 06:28:58 AM