Uganda presents a Kshs438billion Budget

Uganda’s fiscal year 2013/14 was set in line with the current global economy that according to finance Minister Maria Kiwanuka, GDP grossly impacted in the drafting of the fiscal expenditures. In her speech, Kiwanuka said ‘the framework has been developed in line with the recent trends in the domestic, regional and international economy.’

She farther added that the framework has been impacted by GDP sluggish recovery of the global economy, the performance of domestic revenues and expected level of external support from development partners.

Important points to note are as follows, the Uganda Government roots to fund the budget locally amounting 81.1% representing Ugsh10,509billion while it expects Ugsh2,660 billion in external aid representing close to 20% of the total Budget in the FY2013/14.

However the Treasury projects that the Taxman is expected to remit UShs8,486bn in form of taxes and Non-Tax Revenues of UShs275bn in addition projecting it at Ugsh8,761 representing 83.37% of the total domestic financing input.

According to the Minister the financial year 2013/14 will register total resource inflows of Shs 13,169bn (Ksh438.97billion) where the allotment is Taxman Ushs8,486bn (taxes), Ush275 (Non-Tax revenues) and Ush708bn (Government securities).

Unlike Kenya which registered little  foreign aid Uganda will in the FY2013/14 get external financing of the Budget of Ushs2,660bn (Kes88.67billion) compared to the confirmed Kes67.4billion (ush2022billion) and will be divided into 91.99% will be on project representing ush2,447 while Ush213billion (8.01%) would be channeled to Budgetary support.

The treasury underscored that the external aid on projects had increased by Ush234 billion representing (10.57%) compared with Ush2,213 of the FY2012/13 ending on June 30.

The finance Minister farther said, “The resources available to finance discretionary Government expenditure next year, therefore amount to Ushs 9,498bn, excluding project aid and statutory external and domestic debt repayments which amount to Shs 2,695bn. The total resources available for discretionary Government expenditure next financial year represent an additional Shs 1,427bn above the level in the year now ending.”

She farther said that the sector performance over this year serves as a basis for priorities for next year. Due to the fragility of the Ugandan economy the minister farther noted that progress of setting priorities has contributed to economic recovery significantly. However the only challenge remains that of increasing prices and volatile exchange rates that Uganda and the East African region.

The Treasury farther reported that in realization of the annual constraints the Financial Year 2013/14 Budget will continue prioritizing the creation of an enabling environment for growth, development and socio-economic transformation.

Kiwanuka categorically assured Uganda parliament that she understands the Sector priorities to achieving these goals. she reaffirmed that the government shall aggressively continue to invest in infrastructure development particularly in Transport and Energy; Support Increased Agricultural production and enhancing productivity; Enhance Scientific Innovation for Industrialization and Private Sector Competitiveness; Improve the Quality and Access in Social Service Provision in Health Water and Education; and Enhance Transparency and Accountability to improve Value for Money and fight Corruption vigorously in Public Service Delivery.

Unlike Kenya which registered a huge deficit of Ush10,707, Kiwanuka’s budget was lean and was not ambitious as that of Kenya.

 

 

 

 

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