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Uganda’s Parliament has passed a Sh29 trillion budget for fiscal year 2017-18 on deadline day Wednesday despite stiff opposition to the amount of loans.
Parliament only moved to consider the Appropriation Bill,2017 which is the final stage of the budget process, after the Deputy Speaker suspended The House for 15 minutes to resolve an impasse over the budget concerning loan borrowing.
Minister Matia Kasaija, flanked by Attorney Generals William Byaruhanga and Mwesigwa Rukutana consulted Members of Parliament (MPs) opposed to the amount of money on loans, before they reached a consensus on the issue of loans in the 2017-18 Budget. Sh4.99 trillion will be borrowing, as deficit financing.
Earlier, members led by Cecilia Ogwal, questioned the figures the Budget Committee chairman Amos Lugolobi presented. She later presented a minority report.
The House finally constituted itself into a Committee of Supply and passed the Appropriation Bill,2017.
The budget is Sh3 trillion higher than that of the current financial year 2016-17 which is Sh26.3 trillion and was passed in time to beat the May 31, budget approval deadline, as required by the Public Finance Management Act, 2015. (Read Budget breakdown here – click)
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