Live Updates: 2022/2023 Financial Year National Budget Reading
By Uganda Online Media
The Ministry of Finance is currently presenting 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.
This budget will be financed through the taxman’s collections (Shs25.7 trillion), grants (Shs2.1 trillion) and domestic borrowing (Shs7.1 trillion).
The Budget was processed by the parliamentary Committee on Budget, with the input of government ministries, departments, and agencies such as the Finance Ministry and National Planning Authority (NPA).
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According to the Ministry of finance, the breakdown of this year’s Budget is as follows;
Human capital development including; education, health, and gender sectors – Shs8.7 trillion.
-Debt repayment of -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)
