national budget - Uganda Multimedia News & Information

MPs react to 2015/2016 budget

Isaac Senabulya — Thu, 11 Jun 2015 07:49:37 +0000

Members of Parliament have reacted differently to the National budget worth 24 trillion shillings. This budget moved from 14.9 trillion shillings to 24 trillion shillings giving hope to many MPs that it will help to improve the Uganda’s economy and tackling the issues related to wealth creation.

The budget is highly consumed by the energy sector, defence, works and health, neglecting agriculture which employs many Ugandans. The Member of Parliament for Kyamuswa County in Kalangala district, Tim Lwanga, said that he expects a budget which will make each Ugandan contribute to the running of the country by paying tax. He said that no person should be exempted from paying taxes like those in Agriculture sector.

The MP for Buikwe North, Onyango Kakooba, said that he wants a budget focusing on road construction and electricity distribution to areas with low income. The woman MP for Kaberamaido district, Florence Ibi, said that she wanted the budget focusing on investing in Agricultural development and funding teacher’s salary at a better level. She was also sceptical that this budget could be hiding funds to fund NRM party campaigns for 2016 elections.

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National budget for FY 2015/2016 up 5 trillion

Isaac Senabulya — Thu, 28 May 2015 07:04:34 +0000

The national budget for the financial year 2015/2016 has been hiked from 18.8 trillion shillings to 24.1 trillion shillings. The new proposals in the budget have been tabled before Parliament by the State Minister of Finance in charge of Planning, David Bahati. The chairperson Budget Committee of Parliament, Amos Lugolobi, says that the money added will settle the country’s domestic debts and the rest will go to some sectors which were underfunded.

The new Public Finance Management Act requires Government to disclose outstanding debt so that it is captured in budget.

The budget theme for financial year 2014/2015 was Maintaining the Momentum: Infrastructure Investment for Growth and Social Economic Transformation. Government was committed to developing the Infrastructure sector and Shs 75bn was allocated to the Uganda Road Fund to facilitate the maintenance and rehabilitation of approximately 10,000km of national, district, urban (including Kampala City) roads and community access roads across the country.

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Uganda national Budget speech 2012/2013

Gerald Businge — Thu, 05 Jul 2012 14:59:25 +0000

The Minister of Finance, Planning and Economic Development on June 15 read the national budget 2012/2013. The budget as better funding education and health among other sectors, while some new charges like more tax on water has been heavily criticized.

Government of Uganda Budget Financial Year 2012-13 is a detailed copy of the national budget speech and the different allocations .

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Government fixes interest rates on bank loans

Gerald Businge — Wed, 01 Feb 2012 14:56:58 +0000

The government ofUgandahas agreed with commercial banks to fix interest rates to be charged on money given out to the youth in form of loans.

The minister ofUgandafor Finance Minister, Maria Kiwanuka says that the banks will charge 15% for a period of six months.

Some of the banks the government has agreed with include Stanbic Bank, DFCU Bank and Centenary Bank.

Ms Kiwanuka says that the government has put aside 25 billion shillings in the 2011/2012 national budget for the unemployed youths.

Ms Kiwanuka signed the Memorandum of understanding with Centenary Bank, DFCU Bank and Stanbic bank managers inKampalatoday.

Ultimate Media

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