Highlights from the Budget set to be presented today
The Minister of Finance, Matia Kasaija is expected to make a formal presentation of the over 52.7 Trillion shillings National Budget for the FY 2023/2024 on Thursday, June 15, 2023, at the Kololo Independence Grounds under the theme, “Full Monetization of the Ugandan Economy through Commercial Agriculture, Industrialization, Expanding and Broadening Services, Digital Transformation and Market Access.”
According to analysts, the budget that was passed by Parliament on May 18, 2023, may look big on paper but an estimate of 21.4 trillion shillings of this, is set aside for statutory expenditure which covers items such as treasury operations totaling to around 18.9 trillion shillings, pensions and gratuity for retired civil servants amounting to approximately 856 billion shillings, among others.
The distribution of the budget yet to be presented indicates that, human capital development will take the big share of over 9.5 trillion shillings, governance and security is estimated for 7.5 trillion shillings with the Ministry of Defence and Veteran Affairs taking approximately 3.8 trillion shillings.
In addition, transport and infrastructure was allocated over 4.4 trillion shillings with approximately 2.4 trillion shillings set aside for the Uganda National Roads Authority (UNRA) and the bulk which will go towards road maintenance.
According to Parliament of Uganda website, State House will get an estimate of 417 billion shillings despite the opposition’s attempt to have it slashed down.
President Museveni is expected to address Parliament virtually after the reading of the National budget despite his Covid-19 status.
In a statement issued on Wednesday, June 14, 2023, President Museveni said that he will be able to address Parliament today, but delegated only the inspection of parade and taking the salute for the match past to Vice President Jessica Alupo before he makes his brief remarks at the end of the budget speech.
“Otherwise, I had delegated the whole effort to VP Alupo. Now that I am not traveling, she will inspect the parade for me, take the salute for the match past and I will make my brief remarks at the end of the budget speech,” the statement read in part.
While speaking to the press recently, the Permanent Secretary at the Ministry of Finance and also Secretary to the Treasury, Ramathan Ggoobi revealed that, unlike the previous year, a clear presentation plan was designed to ensure that this year’s National budget benefits all Ugandans.
He said that the budget for the next financial year is program-based, with a key goal of getting more Ugandans into the money economy.
“We have been re-purposing the budget for now these two years to move resources from certain areas. The point is, we have moved money, now going forward, you will start to see really a budget which is pro-people,” said Ggoobi.
However, according to some Ugandans, the budget will not address the current issues affecting them like Ggoobi assured them.
“It won’t address our issues because actually, Uganda is living on debts and with the law that has been passed, we do not think that getting any money from like any other source. So the budget won’t help us. That money is not there and won’t help us Ugandans, “stressed Nabunya, a restaurant owner in Ntinda.
“You go to a shop to buy food and you find everything high, the prices of essential needs has become very high, the standard of living is high but the money is little because life is hard,” said Namara Cindy, a student at Makerere University.
