Eyewitness  News
  • Home
Tuesday, February 7, 2023
  • Home
  • Diplomacy
  • ECONOMY
  • Agriculture
  • Faith
  • Security
  • Tourism
  • International
  • Latest News
No Result
View All Result
  • Home
  • Diplomacy
  • ECONOMY
  • Agriculture
  • Faith
  • Security
  • Tourism
  • International
  • Latest News
No Result
View All Result
Eyewitness  News
No Result
View All Result
  • Home
  • Diplomacy
  • ECONOMY
  • Agriculture
  • Faith
  • Security
  • Tourism
  • International
  • Latest News
Home ECONOMY

Debt Repayment Takes 35% of the 2022/23 Budget.

April 27, 2022
in ECONOMY
Reading Time: 1 min read
0
Share on FacebookShare on Twitter

Debt Repayment Takes 35% of the 2022/23 Budget, MPs Call For an Audit of Government Loans.

The National Planning Authority has raised a red frag on over 35% of the 2022/2023 budget that has been committed to loan and interest payments.

Members of the parliamentary committee of budget have called for an Audit into loans acquired by the government to establish their performance.

A section of members on the committee of the budget has called for an audit of loans that have been acquired by the government to establish their performance and impact on the economy after establishing that loans are taking a toll on the 2022/23 budget.

The prayer came after learning from the National Planning Authority that over 35% of the 2022/23 financial year has been allocated to payment of interest and loan principles. The National Planning Authority warned that this is going to suffocate government expenditure on key priority areas.

The minister of state for Finance Henry Musasizi presented to the budget committee, the budget proposals for the estimates of revenue and expenditures for the fiscal year 2022/2023, quoting the total budget at Shs47.2tn of which Shs16.9tn has been allocated to public debt refinancing and interest payments.

Musasizi underscored issues of the government’s inability to borrow due to the increased Debt to GDP ratio to 53.9% that has exceeded the limits,  the inability to impose new taxes due to Covid 19 effects, and increasing commitments on loans as key driving factors of this budget.

However, budget committee members are concerned with the increased government appetite to borrow domestically. Government plans to borrow domestically Shs4.17tn to finance the next financial year budget.

 

 

Previous Post

Attorney General Calls for an Audit into Lubowa Hospital Works

Next Post

Aruu County MP Decries Lack of psychiatrists in Pader District.

Related Posts

Gov’t Tables 49.9 Trillion Budget Framework Paper
ECONOMY

Gov’t Tables 49.9 Trillion Budget Framework Paper For 2023/2024

December 24, 2022
0

The government has tabled the national budget framework paper totaling Shs49.9 trillion for the 2023/2024 financial year. The document was...

Read more
Min. Kasaija Renews Hope for South Sudan Claimants.

Min. Kasaija Renews Hope for South Sudan Claimants.

November 4, 2022
Parliament Clears Govt To Borrow Shs1.73tn

Parliament Clears Govt To Borrow Shs1.73tn

November 4, 2022
Uganda to Shift Trade Route To TZ as Kenya Heads For Polls

Govt Requests To Borrow 1.73TN For Budget Support

October 31, 2022
KACITA Petitions Parliament over Bad Economic Situation

KACITA Petitions Parliament over Bad Economic Situation

September 28, 2022
MPs Support UBOS Proposal to Halt its Full Rollout

MPs Support UBOS Proposal to Halt its Full Rollout

July 27, 2022
Next Post
Aruu County MP Decries Lack of psychiatrists in Pader District.

Aruu County MP Decries Lack of psychiatrists in Pader District.

Poor Payroll Management Costs Service Delivery -MP Mapenduzi

Poor Payroll Management Costs Service Delivery -MP Mapenduzi

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Plugin Install : Widget Tab Post needs JNews - View Counter to be installed
  • Trending
  • Comments
  • Latest
UWOPA Launches Five-Year Strategic Plan

UWOPA Launches Five-Year Strategic Plan

February 6, 2023
Speaker Among Rallies  MPs To Save

Speaker Among Rallies  MPs To Save

February 4, 2023
Provide Pro-Bono Services To Girls MP-Urges Judiciary

Provide Pro-Bono Services To Girls MP-Urges Judiciary

February 2, 2023
Delivery of Essential Medicines Resumes

Delivery of Essential Medicines Resumes

February 2, 2023

Recent News

UWOPA Launches Five-Year Strategic Plan

UWOPA Launches Five-Year Strategic Plan

February 6, 2023
Speaker Among Rallies  MPs To Save

Speaker Among Rallies  MPs To Save

February 4, 2023
Provide Pro-Bono Services To Girls MP-Urges Judiciary

Provide Pro-Bono Services To Girls MP-Urges Judiciary

February 2, 2023
Delivery of Essential Medicines Resumes

Delivery of Essential Medicines Resumes

February 2, 2023

Eyewitnessug.com is Licensed by Uganda Communications Commission (UCC) Under Dominion Media Limited.

Dominion Media Limited is registered by Uganda Revenue Authority.

For Advertisement Reach out to Marketing Department via.
Email: [email protected]

Contact us through our Postal Address.
P.O.BOX 21157 Kampala-Uganda.

Browse by Category

  • Agiriculture
  • Agriculture
  • Business
  • Development
  • Diplomacy
  • ECONOMY
  • Editor's Pick
  • Education
  • Entertainment & Arts
  • Enviroment
  • Faith
  • Feature News
  • Governance
  • Health
  • International
  • Latest News
  • obituary
  • Opinion
  • Politics
  • Politics
  • Security
  • Social
  • Sports
  • Technology
  • Tourism

Recent News

UWOPA Launches Five-Year Strategic Plan

UWOPA Launches Five-Year Strategic Plan

February 6, 2023
Speaker Among Rallies  MPs To Save

Speaker Among Rallies  MPs To Save

February 4, 2023
  • Home

© 2021 Allrights Reserved EYEWITNESS NEWS UGANDA

No Result
View All Result
  • Home
  • Diplomacy
  • ECONOMY
  • Agriculture
  • Faith
  • Security
  • Tourism
  • International
  • Latest News

© 2021 Allrights Reserved EYEWITNESS NEWS UGANDA

error: Content is protected !!