Budget 2022/2023: Here Is What To Expect As Ministry Of Finance Delivers 48.1 Trillion Budget Today

Budget 2022/2023: Here Is What To Expect As Ministry Of Finance Delivers 48.1 Trillion Budget Today

Finance Minister Matia Kasaija

By Uganda Online Media

Kampala: The Ministry of Finance will on Tuesday afternoon deliver a Shs. 48.1 trillion Budget for the Financial Year 2022/2023 budget at the Kololo Ceremonial Grounds.

According to the ministry of finance, this year’s budget is under the theme “Industrialization for Inclusive Growth, Employment and Wealth Creation.”, focusing on post-Covid 19 recovery of the economy.

The budget will be financed from domestic borrowing, (Shs7.1 trillion, tax collections (Shs25.7 trillion) and grants (Shs2.1 trillion).

Emphasis has been put on the Parish Development Model, enhancement of salaries for scientists, Human Capital Development, Governance and Security.

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Minister for Finance Matia Kasaija will read the budget that was passed by the 11th Parliament in May after an eight-hour session.

The Budget was developed by the parliamentary Committee on Budget, with, government ministries, departments and agencies such as the Finance Ministry and National Planning Authority (NPA).

The break down of this years Budget is as follows;

Human capital development including; education, health, and gender sectors – Shs8.7 trillion.
-Debt repayment -17 trillion
-Security and governance, -Shs7 trillion , Ministry of Defense takes Shs 2.3 trillion.
-Lands, Housing and Urban Development will take Shs503 billion
-Transport infrastructure and services -Shs4.1 trillion, Uganda National Roads Authority has been given Shs 2.5 trillion

-Sustainable energy development- (Shs1.6 trillion
-Private sector development- (Shs1.5 trillion).

The least funded include innovation, technology development and transfer with Shs20b, mineral development (Shs31b); community mobilisation and mindset change (Shs73b) and digital transformation (Shs83b), climate change, Natural resource (617B)

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