Finance minister Matia Kasaija, while delivering the 2017/18 budget speech in Kampala, says efforts are being made to increase the per capita income from the current 773 dollars to 1,039 dollars, the threshold for lower middle income status.
Minister Kasaija has allocated Shillings 300 billion to pay off domestic arrears. Kasaija says international reserves by end of 2016 stood at three billion dollars, equivalent to 4.2 months of import of goods and services.
Finance Minister Matia Kasaija presents the financial year 2017/18 national budget to Parliament today with Works and Transport taking the highest allocation at 4.8 trillion Shillings. This is followed by Energy and education at 2.4 trillion, Health at 1.8 trillion and Security at 1.4 trillion Shillings among others.
Fred Badda, the former Bujumba County Member of Parliament says both Government and Kalangala Infrastructure Services should be closely monitored to ensure the agreed financial obligation is not altered. He says the Finance Ministry and UNRA have been secretly adjusting the terms of the contract due to lack of close monitoring.
Its just an hour before Finance Minister Matia Kasaija presents the financial year 2017/18 national budget to Parliament. The 2017/2018 budget under the Industrialisation for job creation and shared prosperity is expected to increase to 29 trillion shillings from 26.3 trillion allocated for the ending financial.