The Permanent Secretary and Secretary to the Treasury in the Ministry of Finance, Planning, and Economic Development (MoFPED), Ramathan Ggoobi, has confirmed that inflation has remained in check, with annual inflation dropping to 3.0% by September 2024.
PSS Ggoobi revealed this on Tuesday, October 15, 2024, while addressing the media at the MoFPED headquarters in Kampala, where he noted that this reflects stable economic growth as
He also directed accounting officers to pay civil servants’ salaries, pensions, and gratuities by the 28th day of every month as approved in the budget of the second quarter of the Financial Year (FY) 2024/25.
Ggoobi also noted that Uganda’s Foreign Direct Investment (FDI) hit a record high of USD 3,034.11 million compared to the previous years.
“Accounting officers must prioritize payment of service providers on time and clearance of domestic arrears while avoiding the accumulation of the arrears and penalties,” Ggoobi said.
He directed that no recruitment is to be done without being cleared by the ministry to ascertain the availability of money from the Ministry of Finance.
In this second quarter, the Ministry of Works and Transport was allocated Shs479.07 billion to fund the construction of an electric standard gauge railway, whereas the Ministry of Agriculture was allocated UGX. 385.22 billion to boost mechanized farming.
Health institutions, including Mulago and Butabika Hospitals, got Shs48.94 billion; the Uganda Cancer Institute received Shs19.93 billion; the Uganda Heart Institute received Ugx7.17 billion; and Shs21.85 billion was allocated to pay intern doctors.