Does Uganda's 2024/2025 Budget Hit the Mark?
The recently approved national budget of Shs72.136 trillion for the 2024/2025 financial year has sparked intense debate among Ugandans.
While some hail it as a significant step towards economic growth and development, others question whether it truly addresses the country's pressing needs.
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This is part of the breakdown of the Budget:
Human capital development: Shs9.9 trillion (26.3% of the budget), Governance and security: Shs9.1 trillion (24.2% of the budget), Integrated transport infrastructure: Shs5.1 trillion, Private sector development: Shs2.0 trillion and Sustainable energy development: Shs1.0533 trillion.
And some of the concerns in this budget include;
Rising public debt: Shs34 trillion allocated for debt repayment
Limited allocation for mindset change: Only Shs1 billion out of the required Shs7 billion.
Increased taxation: Five tax bills passed to support the budget
Some of the experts say "The budget prioritizes human capital development, which is crucial for economic growth." - Dr. Maggie Kigozi, Economist.
"The allocation for mindset change is inadequate, hindering the country's progress." - Dr. Kabumba Busingye, Social Economist
As the budget implementation begins, Ugandans eagerly await the outcomes. Will this budget propel the country towards economic prosperity, or are there still significant concerns to be addressed? Only time will tell.
