Parliament Approves Shs 28tn Budget

Uganda’s Parliament has approved the 2017/​2018 fi­nan­cial year budget totalling to Shs  28.9 tn.

On Tuesday, State Min­is­ter of Fi­nance, David Ba­hati, had earlier pre­sented the estimates and moved a mo­tion to have the budget considered.

The approved figure indicates an increment of about Shs 3tn from Shs 26tn in the current financial year.

According to the approved budget, Shs 21.8tn will come from do­mes­tic fi­nanc­ing while Shs 7tn will be from ex­ter­nal loans and grants.

Minister Ba­hati also explained that Shs 9.9tn would be statutory expenditure – only Shs 19tn is the amount due for appropriation.

The finance ministry projects economic growth between six and seven per cent in the next financial year.

Charity Mbabazi