Government has tabled before parliament the National Budget Framework Paper (BFP) for the financial year 2024/2025 amounting to 52.7 trillion shillings.
While tabling the budget framework paper, the state minister for finance in charge of General Duties Henry Musasizi said that priority areas in this framework paper will include; investing in people, roads, peace and security, electricity generation and transmission lines, and effective management of natural disasters.
He said that the Shs52.7 trillion budget will be financed through improved revenue collection and controlled borrowing to reduce debt servicing costs while supporting faster socio-economic transformation, among others.
Musasizi added that Public Private Partnerships will also be used as a strategy to finance the budget for 2024/2025 .
According to the Public Finance Management Act, the Government should table the budget framework paper before Parliament by 31st December 2023, and by 01st February 2024, the House should have approved the budget framework paper.
