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Finance Minister tables 41.2 trillion budget for next financial year

By Alice Lubwama

The minister of finance Matia Kasaija has tabled a budget of UGX 41.2 trillion for next financial year 2021/2022 before the budget committee of parliament.

According to the proposed budget governance and security will take the lion’s share, each getting UGX7.7 trillion.

This Will be followed by human capital development which will take UGX6.8 trillion , integrated transport infrastructure and services will take 3.9 trillion, agro-industrialization will take 1.4 trillion and ,regional development UGX1.2 trillion.

The budget also shows that domestic refinancing will take UGX8.5 trillion, domestic arrears UGX 400 billion while interest and amortization will take 6.7 trillion shillings.

Matia Kasaija said that in the next financial year they plan to promote inclusive and sustainable growth, accelerate industrialization, and maintain peace and security and human capital development.

In the next financial year’s budget they plan to invest 490 billion shillings to promote the parish model in which the government plans to spend 39 million shillings at every parish to promote inclusive and sustainable growth.

According to the minister, they have decided to bring together all the current revolving funds for development like the youth livelihood fund, and women entrepreneurship program among others and created a parish model which they will use to assist Ugandans to develop.

The MPs however were not satisfied with the proposed model wondering whether they have not just changed names which made the minister of finance Matia Kasaija to ask them to allow him bring the details on how the new model will work on Thursday.