The Independent Uganda: You get the Truth we Pay the Price
KAMPALA, UGANDA | THE INDEPENDENT | The Ministry of Finance, Planning, and Economic Development has released 15.99 trillion for the second quarter.
The announcement was made on Tuesday by the Permanent Secretary of the Ministry of Finance, Ramathan Ggoobi, who is also the secretary to the Treasury (PSST).
According to the releases, 1.99 trillion was set aside for wages and salaries, 3.71 trillion for non-wage recurrent expenditure, and 4.60 trillion for development projects, including infrastructure, health, and agriculture. Security institutions, including the Ministry of Defense, Uganda Police Force, and Uganda Prisons, received a combined 463.97 billion Shillings for operational needs.
Other allocations, included external funding which took 2.557 trillion, Debt and Treasury operations 5.600 trillion, Arrears 14.0 Billion, and Local revenue mobilization 73.47 Billion Shillings.
Ggobi said that the inflation remains low, and declined to 3% by the end of September 2024. He attributed it to good harvests and stable prices, adding that the shilling has appreciated against the U.S. dollar, supported by rising export revenues, particularly from coffee, which grew by 82.2% in August 2024.
He also said that Uganda’s trade deficit narrowed to USD 314.1 million, while foreign direct investment inflows reached USD 3.03 billion in 2023/24, an increase he attributed to activities in the oil and gas sectors.
Ggobi also stressed the need for fiscal discipline and timely execution of projects, urging accounting officers to ensure prompt payments of wages, pensions, and service providers to avoid arrears. He adds that the quarter two release supports the country’s fiscal consolidation efforts while funding for growth strategy.
“Accounting Officers must ensure salaries, pensions, and gratuities are paid by the 28th of each month. Payrolls should be displayed on notice boards monthly,” he said.
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