As the new financial year begins Hoima residents want the district to allocate more money towards fixing the poor roads in the area. Hoima district local government on Friday laid before Council its 2012/13 financial year budget totaling to 19 billion shillings.
President Yoweri Museveni on Thursday used his address during the Budget presentation to warn political leaders and civil servants to stop frustrating investors and consumers. Museveni referred to the two groups as the most significant in economic development of a country.
Education sector takes the largest share of the 2012/2013 budget with close to one thousand seven hundred billion shillings allocated to it in the coming financial year. Part of the money will see primary teachersâ€™ salaries increased.
The Minister of Finance, Planning and Economic Development, Maria Kiwanuka on Thursday presented the 2012/2013 financial year budget, putting more emphasis on what she calls priority sectors including Education, Roads, Energy, Agriculture, Water and Health.
In his State of the Nation address in Kampala, Museveni said that Salons were growing by 9.6 percent in Uganda and yet the Agriculture, a critical sector for an agro-based economy like Uganda, was only growing at 1.4 percent. He referred to such a growth as a paradox that should be changed because the fast growing sectors were not bringing in a lot of money in revenue to government.
With the next financial year just three weeks away, a Makerere University don has advised that the best the government can do to boost the flagging economy is to stop dishing out investment incentives and tax exemptions and encourage production.