Uganda’s Ministry of Works and Transport retains a lion’s share of the projected Shs45.5 trillion budget.
Ministry of Works and Transport has retained Lion’s share of the projected Shs45.5 trillion Uganda National Budget of 2020/2021.
While reading the National Budget yesterday, the finance minister, Hon Matia Kasaija announced a slight increase of about 12.3 per cent in this year’s budget plan as compared to that of the previous year.
The budget themed “Industrialisation for Job Creation and Shared Prosperity.” will see the Ministry of Works and Transport retain the biggest share of the budget totalling to Shs5.8 trillion.
Security will come second with a whopping total of Shs4.5 trillion while interest payment comes third with Shs4 trillion projected to be spent on it.
External debt repayment is projected to take up to Shs1.2 trillion, while domestic refinancing will scoop a total of 7.5 trillion with Shs40b directed to domestic arrears.
Others including Education will take Shs3.5 trillion, Health will use Shs2.8 trillion, Energy will use Shs2.6 trillion and Accountability Sector will use Shs2.1 trillion while Shs2 trillion is budgeted to be spent on Justice, Law, and Order Sector.
A total of Shs1.7 trillion is predicted to be used by the Local Government, Water and Environment will use Shs1.6 trillion, Agriculture will us Shs1.3 trillion while Public Administration will use Shs1.3 trillion with Parliament taking Shs667.8 billion.
Also, government projects to spend Shs662.5 billion on Public Sector Management, Shs264.5b on Science and Technology, Shs200b on Lands, Housing and Urban Development, Shs193.6b on Tourism while Shs172.2b will be spent on Social Development.
Further, Shs171.8b will be spent on Trade and Industry with Information and Communications Technology taking the smallest portion of the budget totalling to Shs162.9b.
Meanwhile, the 2020/2021 Budget themed “Industrialisation for Job Creation and Shared Prosperity.” will commence the start of the Third National Development Plan (NDP III).
According to the Minister of State for Planning, Mr David Bahati, the theme is to aim at enhancing capacity for import substitution, spur local industrial growth with an emphasis on agro-industrialisation.
Mr Bahati stressed that this is part of the government’s plans to maximumly promote import substitution thereby reducing on the idea of importing more from other countries to having more goods produced and sold domestically and within Uganda.
“This will turn Uganda from a net importer to a net exporter of processed agricultural products and others,” Mr Bahati said adding that government has planned for about Shs2.8 trillion to finance interventions such as improvement of yields and productivity through the use of modern inputs, supporting area-based commodity value chains, speeding up titling process and strengthening physical planning for production land among others.