Newslex Point News in Uganda, Uganda news
As Uganda approaches the dawning of a new financial year, the government finds itself shackled by the weight of an ever-growing debt load. With a staggering amount of Shs93.3 trillion already looming over the nation, the impending burden threatens to cast a long shadow on the country’s economic landscape.
The specter of mounting debt has been a persistent concern in recent years, and as the calendar turns, it shows no signs of abating.
Despite concerted efforts to manage and alleviate this fiscal strain, the government’s debt has continued to surge, leaving policymakers grappling with the consequences.
While the exact reasons behind this escalating debt remain complex, it is crucial to understand the implications it holds for Uganda’s financial stability, development projects, and future generations.
As the government treads into uncharted territory, it must navigate the treacherous waters of debt management and find sustainable solutions to avoid jeopardizing the country’s long-term prosperity.
The daunting figure of Shs93.3 trillion not only signifies the current debt burden but also serves as a cautionary reminder of the potential for further escalation.
This looming increase could strain the government’s ability to provide essential services, invest in critical sectors, and meet the needs of its citizens.
As the new financial year approaches, it is imperative for policymakers to craft a comprehensive strategy that addresses the root causes of this mounting debt.
This entails identifying areas for fiscal consolidation, exploring avenues for increased revenue generation, and implementing prudent spending measures. By doing so, the government can secure a more sustainable financial future and mitigate the risks associated with an ever-expanding debt burden.
Uganda’s journey into the new financial year is fraught with challenges, but it also presents an opportunity for introspection and proactive decision-making.
As citizens, it is vital to stay informed and engaged, advocating for responsible fiscal policies that prioritize the well-being of the nation. Together, we can forge a path towards economic stability and ensure a brighter future for Uganda.
Check also;
- UNRA Drowning In Shs140B Debts, COSASE Squeezes Allen Kagina To Explain
- Ugandan Debtor Instructed To Settle $17 Billion Debt To International Lender
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![[dropcap]A[/dropcap] section of women in Bugongo parish and Nawangaiza parish in Nawandala Sub County, Iganga District have decried the near-impossible terms set for them to access GROW funds. They have now petitioned their woman member of parliament for Iganga Hon. Kauma Sauda Alibaawo to ask the government for revised terms and conditions. This is to enable them to benefit from the program. The disgruntled women accuse the implementers of the program of charging the money. They are also asking for their land titles and land agreements. They said that such properties are governed by their husbands. These, therefore want the government through their woman MP to intervene and revise the requirements for one to benefit. The women were on Wednesday at Namabwere primary school in Nawandala Sub County. They had gathered in their respective groups to receive over 300 chickens from Hon Alibaawo in her campaign to improve the livelihood of women in Iganga district. Each group was given 50 chicken as start-up capital in their journey to prosperity. Read what some leaders said; Ms Naigambi Lydia from Nawandala Trading Centre says, “They solicited money from us through opening bank accounts and depositing Shs80,000. They also asked for land titles and land agreements from us yet we don’t have such things. I was informed that I needed to have a business with a capital of Shs4m yet my capital was very small.” The chairperson Kisoboka Saving Group in Nawandala Ms. Nakagolo Faith said they were not able to join the program. This is given the many conditions attached. She also asked their woman MP to raise their concerns to the relevant offices. The MP condemned the mode of implementation of the program. She cited that it has turned to benefit the well-off class of women other than the intended group. She further asked the government to intervene saying the current strings attached to the programme are very tight to accommodate a common woman. GROW project is a Government of Uganda initiative that arose out of the need to respond to the needs of women entrepreneurs. This is especially those who want to grow their businesses, sustain their self-employment and create more jobs. Check Also; Iganga District NRM Leaders Urge Museveni To Fulfill Election Promises Of 2021 International Women's Day: Celebrating Progress Towards Equality](https://newslexpoint.com/wp-content/uploads/2024/11/Iganga-women-decry-tough-terms-to-access-GROW-funds-e1731738339732.jpg)