Tag Archives: ministry of finance

Kampala, Uganda | THE INDEPENDENT | The Central Bank has challenged the Ministry of Finance, Planning and Economic Development against the current high rates of borrowing, saying they are putting the country and the economy at risk. The national debt burden is currently estimated at UGX 64 trillion as of December …

Kampala, Uganda | THE INDEPENDENT | The Uganda Revenue Authority (URA) revenue collection targets for the next three years are far from achievable, with the tax body facing several challenges according to officials. This is a repeat of what has been happening for most of the previous short and midterm strategies …

Kampala, Uganda | THE INDEPENDENT | The Uganda economy is projected to grow by 3.1 percent this financial year, according to the Ministry of Finance, Planning and Economic Development. Before the outbreak of COVID-19, the government had projected the economy to grow by 6.3 percent, but this was disrupted when Uganda and …

Kampala, Uganda | THE INDEPENDENT | The Ministry of Finance, Planning and Economic Development has said the new $900 million (about 3.1 trilling Shilling) loan government plans to borrow from the International Monetary Fund -IMF will not cause a substantial increase of Uganda’s rising public debt. Responding to questions at Uganda Media …

Takaful is a co-operative system of reimbursement in case of loss, organized as an Islamic or sharia compliant alternative to conventional insurance Kampala, Uganda | THE INDEPENDENT | The regulations that will guide the establishment of Takaful, the kind of insurance that employs Islamic principles for members to contribute money into …

Kampala, Uganda | THE INDEPENDENT | Government has revised downwards the budget for procurement of new vehicles for Members of the 11th Parliament by Shillings 121 million for each legislator. This brings the allocation to Shillings 200 million from the initially requested 321 million per MP by the Parliamentary Commission as per …

Kampala, Uganda | THE INDEPENDENT | The Ministry of Finance has further increased the budget for the financial year 2021/2022 from the initial 41.3 Trillion Shillings to 44.7 Trillion Shillings. According to the Ministry of Finance, the increase is due to an additional 500 Billion Shillings for the purchase of COVID-19 vaccines …

Kampala, Uganda | THE INDEPENDENT | The Ministry of Finance, Planning and Economic Development has explained why the budget has been reduced by 4.3 trillion shillings for the 2021/2022 financial year. Although last year’s financial year budget was 45.5 trillion shillings and the projections for the financial year, 2021/22 was at 45.66 …

Kampala, Uganda | THE INDEPENDENT | Uganda’s security budget will increase for the next three years according to the Ministry of Finance. This is already reflected in the 41.3 trillion shillings budget, the government has tabled for the financial year 2021/2022 in which governance and security takes a lion share of 7.7 …

Kampala, Uganda | THE INDEPENDENT |  The Ministry of Finance has revised a loan request first made in 2019 from 445 to 419 billion shillings.  Parliament had authorized the government to borrow up to 445 billion Shillings (101.88 million euros) from the UK Export Finance for the development of solar-powered irrigation …