National Budget to hit Shs 39 trillion
Parliament yesterday passed the National Budget Framework Paper which projects a budget of Shs 39 trillion for the financial year 2020/2021.
This will be Shs 5 trillion more than last year's budget which stood at Shs 34 trillion.
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According to the State Minister for Economic Planning David Bahati, this budget will focus more on service delivery, infrastructural development in addition to the general election of 2021.
Bahati said no amount will be generated from the Petroleum Fund to finance the budget.
He disclosed that sources of financing as Shs 21.7 trillion from non-tax revenue; Shs 951 billion budget support while Shs 10.4 trillion will be projected revenue among other sources as he explains.
However some MPs expressed concern that Uganda’s national debt had increased to Shs 42.3 trillion from Shs 41 trillion and advised government on to quickly devise means of reducing the debt before it’s too late.
