Finance Minister, Matia Kasaija will in June read Shs45 trillion budget for 2021/22 Financial Year. He revealed this while presenting the proposed budget before Parliament’s Budget Committee.
According to him, governance and security sector will take the highest share with Shs7.7 trillion.
These will be followed by human capital development with Shs6.8 trillion , integrated transport infrastructure and services will take share Shs3.9 trillion, agro- industrialization will take Shs1.4 trillion while regional development will share Shs1.2 trillion.
Kasaija says domestic refinancing will take Shs8.5 trillion, interest and amortization will take Shs6.7 trillion .
Kasaija however clarified that next financial year, Government plans to promote inclusive and sustainable growth, accelerate industrialization, and maintain peace and security in addition to promoting human capital development.
“In the next financial year’s budget, Government plans to invest Shs490bn to promote the parish model in which the government plans to spend Shs39m at every parish to promote inclusive and sustainable growth,” Kasaijja stressed.
According to the Finance Minister, they have decided to bring together all the current funds for development like the youth livelihood fund, the women entrepreneurship program among others to the parish level which will help transform farmers from subsistence to commercial production.
MPs were however not satisfied with the proposed Parish model wondering whether they have not just changed names which made minister Kasaija to ask to be given until Thursday to bring details on how the new model will work.
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