It targets organized business groups involving women and youths mainly in the informal sector is meant to uplift the economic status of communities by reducing poverty at house-hold level. It’s also aimed at enhancing socio- economic transformation from subsistence to market oriented economy.
This growth was attributed to increased earnings from different export commodities such as coffee, cocoa beans, rice, base metals, fruits, and vegetables.
Sybyl Limited (Uganda), Senid Business Solutions PVT Ltd from India and Sybyl Kenya Limited will design, supply and help government implement the Integrated Government Human Capital Management System.
A trade surplus means exports exceed imports. It is an indicator that businesses are having a good time and are earning more from goods taken abroad. It creates employment and growth. In many cases, a trade surplus helps to strengthen a country’s currency, as it earns more foreign currency than it spends to import goods.
The ministry report also shows that tax revenue collections during the month amounted to 1.3 trillion Shillings, reflecting 100.1 per cent performance.
Clare Musiime Bakanga, the URA head of change digital tracking solutions, told reporters last month that URA was working with Uganda National Bureau of Standards (UNBS) to ensure they minimize revenue leakages, combat illicit trade and money laundering and trace the whereabouts of the product.
Ministry of Finance and Economic Development has said in a statement today that the 66km road plans for construction will be put on halt because all technically acceptable tenders exceed the financial resources available.
In its latest economic outlook report for Uganda after the executive consultations on the country, the IMF says: “One shilling paid for debt service is one shilling less going to a school or a health clinic. The current ratio of interest payments to revenue is comparable to what countries with high risk or in debt distress typically face.”
Statistics from the Finance and Economic Development Ministry show that agriculture received 28% (Shillings 283bn) of all loans disbursed in January up from Shillings 113 in December 2018.
According to Ministry of Finance, the increase was triggered by Bank of Ugandas increase of its Central Bank Rate CBR from 9.0 in September to 10 in October.
According to Alex Mabirizi, the LCV District Chairperson LC5 says that they were supposed to receive 720 Million Shillings from the Ministry of Finance for completion of the building, but received 350 million shillings which is insufficient.
The Public Accounts Committee PAC recently recommended to Parliament that the Privatization Unit be dissolved immediately. The unit, which is under the Finance Ministry, is charged with divesting public enterprises
In its report seen by URN that is due for debate in parliament on Tuesday, PAC, which is chaired by the Soroti Woman MP, Angelline Osegge, says the unit should be dissolved within 3 months from the date of adoption of the report to save government from nugatory expenditure.
The report which was released early this week by the Ministry showed Arua district scoring below average in key areas of production, the road sector and education.
Lira District Chief Finance Officer Geoffrey Ebonga and Boniface Odora Olwa, the Senior Accountant in charge of the Integrated Financial Management System, were arrested for causing the financial loss of about 314 million Shillings to the district.
Marvin Ayebare, the Secretary-General of associated motor dealers 2015 says that Ugandans are not economically prepared for newer car models given their limited incomes and the poor state of the road network.
The Opposition argues that the supplementary request process has been abused with gross indiscipline on the part of government agencies and those who release the money by allowing supplementary expenditures that do not meet the requirements stipulated in the Public Finance Management Act PFMA.
The affected accounting officers are accused of failing to comply with the timelines for submitting Quarter one and Quarter two Budget performance reports for the financial years 2017/2018 and budget framework papers for the financial years 2018/2019 in line with the Public Finance Management Act 2015.
The Minister of Finance, Planning and Economic Development Matia Kasaija was expected to present before parliament, a commitment on funding towards the management of Nodding syndrome in the districts of Pader, Gulu, Lamwo, Kitgum and Omoro.
