Wednesday, July 2, 2025
UG Standard - Latest News
  • Home
  • News
    • DIPLOMACY
    • COURT
    • AFRICA
    • BOOK REVIEW
    • INTERVIEW:
    • National
    • Parliament
    • World
    • Regional
  • Business
    • AGRIBUSINESS
    • OIL & GAS
    • REAL ESTATE
    • TECH
    • INNOVATIONS
    • TELCOM
  • OpED
  • EDUCATION
  • INVESTIGATION
    • NATIONAL ARCHIVE
    • SPECIAL REPORT
    • ANALYSIS
  • FEATURES
    • SOCIETY
    • Community
    • Pictorial
    • PROFILES
    • Lifestyle
    • Health
    • ENVIRONMENT
  • Tours & Travel
    • Hotel & Hospitality
  • Sports
  • About Us
  • Login
UG Standard - Latest News
ADVERTISEMENT

Parliament approves 2023/24 budget draft

by UG STANDARD EDITOR | UG STANDARD EDITORIAL
01/02/2023
in News
Reading Time: 2 mins read
A A
0
Share on FacebookShare on Twitter
Budget Committee Deputy Chairperson, Hon. Wamakuyu Mudimi presenting the report on the Budget Framework Paper
Budget Committee Deputy Chairperson, Hon. Wamakuyu Mudimi presenting the report on the Budget Framework Paper

The Budget Framework Paper with proposals of an Shs49.98 trillion budget for the Financial Year 2023/2024 has been passed by Parliament.

The passing of the Budget Framework Paper is in line with the requirement of the Public Finance Management Act that sets 01 February as the deadline for Parliament to approve it.

Related posts

Looming unemployment: Farmers, Residents in shock as NEMA boss orders the demolition of multi million chicken farm

30/06/2025
254
Suspects in court on Monday.

Mpigi District boss, District Service Commission Members Charged over illegalities in Job offers

30/06/2025
161

Tororo leaders hail Lady Justice Sarah Langa for her Dedication,Mentorship and Integrity

29/06/2025
267
Bishop Lwere with some of the Judicial officers who participated in the Prayer Breakfast.

Bishop Lwere warns Judicial officers against Corruption

28/06/2025
170

The passing of the draft budget in a plenary sitting chaired by Deputy Speaker, Thomas Tayebwa on Tuesday, 31 January 2023, followed a debate by Members of Parliament on the Budget Committee reports on the framework and the budget performance respectively.

The proposed budget will be financed through domestic revenue equivalent to Shs28.8 trillion, budget support amounting to Shs2.4 trillion, domestic borrowing of Shs1.6 trillion and external project support of Shs8trillion.

The other sources are domestic refinancing of Shs8.7 trillion and local revenue for the local government of Shs238.5 billion.

The government’s key priorities are starting the construction of the Standard Gauge Railway and finalization of the rehabilitation of the Meter Gauge Railway under the Integrated Transport programme.

The government also intends to invest in small-scale solar-powered irrigation as well as address climate change and food security under the Agro Industrialization Programme.

The other priorities are constructing power service stations and transmission lines under the Sustainable Energy Development programme and capitalization of the Uganda Development Bank and Uganda Development Corporation to continue supporting private sector development, recovery and economic transformation under Private Sector Development.

Kashonzi County Member of Parliament, Herbert Tayebwa warned against the high expenditure against government’s low revenue.
He said that Uganda should only borrow for investment but not consumptive expenditures.

The Leader of the Opposition, Hon. Mathias Mpuuga said that the Budget Framework Paper is silent on the high-interest rates on loans.

He wondered how much the country was paying annually as debt repayment for Karuma Hydro Power Dam.

The Deputy Speaker, Thomas Tayebwa expressed worry about the reducing discretionary expenditure despite the growth in revenue estimates.
“This means that we shall have limitations in using our appropriation power to reallocate the budget. For every Shs100collected, over Shs37 is spent on servicing debts,” said Tayebwa.

The Deputy Chairperson of the Budget Committee, Hon. Wamakuyu Mudimi said that proposed budgets towards programmes that contribute directly to value addition is only 5.6 per cent of the total budget and only 4.7 per cent of the total budget has been allocated to programmes that contribute towards strengthening of the capacity of the private sector.

The government will now revise the budget estimates based on Parliament’s recommendations and present final estimates to the House by 15 March 2023 for the final budgeting process.

 

Share this:

  • Share
  • Click to share on Facebook (Opens in new window) Facebook
  • Click to share on X (Opens in new window) X
  • Click to share on LinkedIn (Opens in new window) LinkedIn
  • Click to share on X (Opens in new window) X
  • Click to share on Pinterest (Opens in new window) Pinterest
  • Click to share on Telegram (Opens in new window) Telegram
  • Click to share on WhatsApp (Opens in new window) WhatsApp

Like this:

Like Loading...

Related

Tags: FeaturedHerbert TayebwaKashonzi County Member of ParliamentMathias MpuugaMeter Gauge RailwayParliament approves 2023/24 budget draftPrivate Sector DevelopmentStandard Gauge RailwayUganda Development Bank

Related Posts

 Abbas urges U.S. to compel Israel to stop violations against Palestinians
News

 Abbas urges U.S. to compel Israel to stop violations against Palestinians

05/11/2022
0
304

Abbas urges U.S. to compel Israel to stop violations against Palestinians RAMALLAH, Nov. 4 (Xinhua) -- Palestinian President Mahmoud Abbas...

Read moreDetails
Equity ranked 4th strongest banking brand globally on brand strength, scoring 92.4 points out of 100

 Equity Bank Under Scrutiny for Alleged Role in UGX.3bn Fake Gold Scam

09/07/2024
614
Minister of Health Dr. Ruth Aceng and Permanent Secretary Dr. Diana Atwiine pay their respects at the burial of Dr. Joshua Musinguzi, a champion in the fight against HIV/AIDS in Uganda. Their presence honors his legacy and dedication to improving healthcare in Uganda.

 FULL LIST: Health Service Commission Shortlists Applicants for Key Roles

18/06/2025
994
Kabuleta and other opposition politicians have teamed up to put an end to Museveni's leadership

 Kabuleta, other opposition politicians team up to put an end to Museveni’s leadership

27/02/2024
495
Load More

Popular Articles

  • Check out the top schools with pupils who scored 6 in 4 aggregates in the 2024 PLE results, as released by UNEB

    PLE 2024 Results: Top Schools with 6 in 4 Aggregates

    4361 shares
    Share 1744 Tweet 1090
  • How to Renew Your National ID Online: NIRA Pre-Registration Portal 2025 Guide

    3911 shares
    Share 1564 Tweet 978
  • NIRA unveils high-tech National ID, mass enrollment set to begin

    2660 shares
    Share 1064 Tweet 665
  • FULL LIST: Ministry of Education, NCDC publish self-study workbooks amid COVID-19 lockdown

    3322 shares
    Share 1348 Tweet 823
  • How to Check PLE Results 2024 on Phone, Online

    1783 shares
    Share 713 Tweet 446
  • PLE 2024 Results: UNEB Clarifies on Release Date

    1650 shares
    Share 660 Tweet 413
  • MPs clear govt to cancel 2020 academic year

    2796 shares
    Share 1150 Tweet 686

Recent Articles

Nile Breweries Head of Marketing Wangechi Gitahi with Solly Sebola, Chargé d'Affaires at the South African High Commission.

Nile Special, URU engage South African High Commission on Rugby events

01/07/2025
Rotary District 9213 Gov. Geoffrey Kitakule speaks at a press conference Tuesday at Protea Hotel Kampala.

New Rotary Governor Kitakule calls for collaboration as new year begins

01/07/2025

CNOOC Uganda, Chinese team hold medical camp in Kikuube District

01/07/2025
Uganda Breweries MD Andrew Kilonzo with his team with the award

Uganda Breweries Earns Prestige Trophy for 25 Years of Quality

01/07/2025
Discover how new pipeline deals, including EACOP and Russia-Congo agreements, are accelerating Africa's energy security and economic growth. Learn about these crucial infrastructure projects shaping the continent's future

New Pipeline Deals Fuel Africa’s Energy Future

01/07/2025
Flexipay cashback Trolley Dash winner Kyomuhendo Leticia ejoying her moment as she checked out of the supermarket

Stanbic Bank unveils FlexiPay cashback promotion to boost digital transactions

01/07/2025

Presidential Industrial Skilling Hub Partners with UVTAB to Enhance Job Readiness

01/07/2025

Recent CommentsRecent Comments

  • The Journey of Ibrahim Traoré on How President Ibrahim Traoré’s ambitious vision is driving Burkina Faso’s economic growth push
  • Ugandan Scientists Finalists For European Inventors Prize — Press Uganda on Ugandan scientists finalists for European inventors prize
  • Government Pumps UGX1 Trillion Into UDB To Drive Industrialization, SME Growth — Press Uganda on Government pumps UGX1 Trillion into UDB to drive Industrialization, SME growth
  • PS Ggoobi Tips On Building USD 500b Economy — Press Uganda on PS Ggoobi tips on building USD 500b economy
  • Museveni Meets German Envoy Matthias Schauer After Subversion Claims — Press Uganda on Museveni meets German envoy Matthias Schauer after subversion claims

UG Standard - Latest News

UG Standard, published via www.ugstandard.com isa publication of Sahel Media Solutions Ltd, a professional Digital/New Media company in Uganda info@ugstandard.com

Follow us on social media:

Latest News

  • Nile Special, URU engage South African High Commission on Rugby events
  • New Rotary Governor Kitakule calls for collaboration as new year begins
  • CNOOC Uganda, Chinese team hold medical camp in Kikuube District
  • Uganda Breweries Earns Prestige Trophy for 25 Years of Quality
  • New Pipeline Deals Fuel Africa’s Energy Future
  • Stanbic Bank unveils FlexiPay cashback promotion to boost digital transactions

OpED

Why de-register a Motor Vehicle in Uganda: and Consequences of Non-Compliance

Challenges of taxing law firms in Uganda

SHEILA ABOTH: Maternal healthcare must be everyone’s business because it takes a village

DARIUS NIWAHA KISHAHO: Securing Health After Retirement: Why a Post-Retirement Medical Cover is a Necessity, Not a Luxury

Open Letter to the Chief Justice: Your Silence on Corruption is Very Loud

© 2024 Ugstandard - Latest News by Digital/New Media company.

Welcome Back!

Sign In with Facebook
OR

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Home
  • News
    • DIPLOMACY
    • COURT
    • AFRICA
    • BOOK REVIEW
    • INTERVIEW:
    • National
    • Parliament
    • World
    • Regional
  • Business
    • AGRIBUSINESS
    • OIL & GAS
    • REAL ESTATE
    • TECH
    • INNOVATIONS
    • TELCOM
  • OpED
  • EDUCATION
  • INVESTIGATION
    • NATIONAL ARCHIVE
    • SPECIAL REPORT
    • ANALYSIS
  • FEATURES
    • SOCIETY
    • Community
    • Pictorial
    • PROFILES
    • Lifestyle
    • Health
    • ENVIRONMENT
  • Tours & Travel
    • Hotel & Hospitality
  • Sports
  • About Us

© 2024 Ugstandard - Latest News by Digital/New Media company.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
%d