Overview:
Kivumbi said that the largest portion of the money in the budget has been allocated towards purchasing guns and paying debts whereas the livelihoods of Ugandans in such difficult economic times are ignored.
Shadow Finance Minister Muwanga Kivumbi has said that the 2022/2023 National Budget is anti- people, reasoning that “it’s not going to give any hope to Ugandans.”
The National Budget for 2022/2023 financial year is set to be read by Finance minister Matia Kasaija at 2pm on Tuesday, 14 June 2022.
But Kivumbi said that the largest portion of the money in the budget has been allocated towards purchasing guns and paying debts whereas the livelihoods of Ugandans in such difficult economic times are ignored.
“Most of the monies have been allocated into buying guns. In such a time where prices of commodities are high, how do you think of buying guns when the people you want to protect are dying of hunger?” Mr. Kivumbi, a member of the Opposition National Unity Platform, said on Tuesday.
“The other biggest portion has also been taken to pay debts, yet most of the debts we get are helping only a few clique of people! Therefore in today’s budget apart from the Parish Development model that has only been given one Trillion Shillings, there is nothing else that is pro-people,” Mr. Kivumbi added.
“The other biggest portion has also been taken to pay debts, yet most of the debts we get are helping only a few clique of people! Therefore in today’s budget apart from the Parish Development model that has only been given one Trillion Shillings, there is nothing else that is pro-people,”
Muwanga kivumbi, shadow finance minister
The biggest portion (Shs17 trillion), which is 35.3% of the total national budget, is earmarked for interest and debt payment.
Mr Kivumbi also added that the budget has focused more on protecting the regime in power instead of protecting and provide for ordinary Ugandans.
The Minister of Finance is expected to read the National Budget that amounts to over Shs48 trillion.
In this coming Financial Year, government is to collect revenues of Shs25 trillion and 789 billion shillings, an increase from Shs22 trillion and Shs837billion from this Financial Year ending this month.
Out of the Shs48trillion and Shs130b, government is going to borrow Shs20trillion, of which Shs12 trillion and Shs973bn is to be borrowed from domestic financial institutions such as National Social Security Fund (NSSF) and some banks while Shs7 trillion and Shs165b is to be borrowed from China, World Bank and others.