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.