BUDGET THEME: Industrialization for Job Creation & Shared Prosperity
The Minister of Finance, Planning and Economic Development Matia Kasaija is today presenting a Shs40 trillion 2019/20 national budget for Uganda. Kasaija read the budget to parliament on behalf of President Yoweri Museveni.
Parliament in an unprecedented manner last month passed the 2019/2020 budget totalling sh40.48 trillion without debate on the budget committee report.
The 40.48 trillion Budget is up from the current 2018/2019 financial year budget of Sh32.7trillion.
According to the approved budget, 27.957 trillion Shillings is Recurrent (10.5 trillion) and Development (17.3 trillion) expenditure while 12.53 trillion is Statutory expenditure charged directly on the Consolidated Fund.
The budget is to be financed by domestic revenue collections amounting 20.487 trillion Shillings, resources from the Petroleum Fund amounting 445.8 billion, Domestic Financing 2.32 trillion, Domestic Debt Refinancing 6.18 trillion, external budget support 675.2 billion, external project support 9.42 trillion and others.
Domestic and External Financing constitutes 74.5 percent and 25.5 percent of the total resource envelope, respectively.
According to the approved figures, Works and Transport sector takes the largest share of the budget with an allocation of 6.4 trillion Shillings up from 4.7 trillion Shillings, it is followed by the Security Sector with 3.6 trillion Shillings up from 2.06 trillion and the Education Sector allocated 3.2 trillion up from 2.7 trillion.
The other sector allocations are Energy and Mineral Development Sector at 2.9 trillion, Health 2.5 trillion, Accountability Sector 1.9 trillion, Justice Law and Order Sector at 1.6 trillion, Local Government Sector 1.2 trillion, Water and Environment 1.04 trillion, Agriculture 1.01 trillion an others.
Some of the least funded sectors are Tourism with 157 billion, ICT 123 billion, Trade and Industry with 171 billion, Science and Technology 159 billion, Lands and Housing 193 billion, Social Development 218 billion and others.
The 2019/2020 Budget themed ‘Industrialization for Job Creation and Shared Prosperity’ is structured along six major thematic areas including harnessing key growth Sectors of Agriculture & Agro-Industry, Tourism, OiI, Gas, and Minerals; Enhancing Private Sector Growth and Development; Promoting Human Capital Development; Strengthening Public Sector Investments and others.
2019 – Sh40 trillion
2018 – Sh32 trillion
2017 – Sh22 trillion
2016 – Sh20 trillion
Domestic financing 74.5 percent
External Financing 25.5
Works-Transport Sh6.4 trillion
Security 3.6 trillion
Education 3.2 trillion
Tourism 157 billion
ICT 123 billion
Lands & Housing 193 billion