Finance Ministry presents 2020/21 budget framework - Daily Post Uganda

Finance Ministry presents 2020/21 budget framework

Minister of State for Planning David Bahati has today appeared before the Parliamentary Committee of Finance, Planning and Economic Development chaired by Hon. Henry Musasizi together with teams from National Planning Authority (NPA) and Public Procurement and Disposal of Public Assets Authority(PPDA) to present their budget framework papers for FY 2020/21.

The budget for NPA in FY 2020/21 will be UGX33.56b while that of PPDA will be UGX24.8b.

Bahati said that National Development Plan (NDP III ) priorities remain Agriculture, Tourism, Minerals, Petroleum and Manufacturing in addition to Human capital development and Infrastructure.

According to NPA Chairperson Prof.Pamela Mbabazi Government has proposed five objectives to pursue achievements of the NDP III goal and these are: Enhancing value addition in key growth opportunities, strengthening the private sector to drive growth and create jobs, consolidating and increasing stock and quality of productive infrastructure as well as strengthening the role of the State in guiding and facilitating development.

Bahati assured the Country that Uganda is still on course towards achieving middle income status, adding that the stock of national debt to GDP ratio stands at 36% which is a better performance compared to other countries in the region.

He added that Uganda will not go beyond 50% debt to GDP ratio in the next 10 years.

He also said the cost of money is still a challenge and government is determined to capitalise Uganda Development Bank (UDB) to the tune of 500 billion in the next three years so that Ugandans can access affordable credit.

PPDA on the other hand is focussed on implementing and rolling out of e-Government procurement. e-Government procurement is expected to go live on 31st March 2020 in the 10 pilot procurement and disposal entities while roll out to central government entities will commence on 1st July 2021 and 1st July 2022 for Local Governments.

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