Auditor General’s report shows inefficiencies in loan absorption

As of June30, committed but un-disbursed debt stood at Shs18.1trillion, this is according to the new report released by the Auditor General.

In the report, the auditor General revealed that several loans performed poorly whereby some had reached closing date yet others were nearing expiry without being fully disbursed something that he said such low performance undermines attainment of planned development targets.

The report also notes that government’s outstanding domestic arrears have continued to escalate in the past three years now standing at Shs2.7trillion. The report included a total of 1417 audits including financial audits, forensic investigations, value for money and specialized audits done by December 2016.

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editor@independent.co.ug