The government of Uganda has said that it will prioritise the completion of ongoing projects over new ones in the next financial year.
This statement was made by Uganda’s Permanent Secretary and Secretary to the Treasury, Ramathan Ggoobi, while appearing on a local television show on Thursday, March 28, 2024.
Ggoobi spoke on a wide range of issues, including the performance of the economy and how the budget for FY 2024–25 is shaping up. He noted that government projects like Lubowa Hospital and the Standard Gauge Railway will continue to be worked on.
“Construction of the Lubowa specialised hospital is on course. A new contractor is on-site, and work is ongoing. Construction of standard-gauge railways is on course to start next fiscal year. Negotiations are at the tail end, and the government will have resources to pay affected persons the benefits they deserve once the rationalisation of its agency process is concluded by the Parliament of Uganda,” Ggoobi said.
He also revealed that, as the Ministry of Finance, they have deepened fiscal consolidation, which entails increased revenue mobilisation, reduced borrowing, and rationalising government expenditure, especially in consumptive areas such as workshops and travel.
“We are going to be so harsh on those who are trying to evade tax because they are the ones who make us increase taxes in areas we shouldn’t and borrow money we shouldn’t be borrowing,” Ggoobi said.
The permanent secretary further said that more investments will be made next FY in money-making activities such as value addition, wealth creation, job creation, Emyooga, women and youth funds, as well as science, technology, and innovation.
“I want to assure Ugandans that we are going to support our local producers to add value to the raw materials we now have in plenty—agriculture, minerals, and also the service sector like tourism,” he said.
He added, “We have invested heavily in value addition in the past decade. Uganda is changing in terms of the contribution of manufacturing and industrial produce to our GDP, and so we are going to continue on that path.”
The Minister of State of Finance for General Duties, Henry Musasizi, presented the 2024–2025 budget to parliament for consultation and approval today, Thursday, March 28, 2024.
