New Budget To Focus On Economic Recovery – Ramathan Ggoobi

The Secretary of the Treasury, Ramathan Ggoobi has said next year’s financial budget will focus on the production sectors. This is because these have higher economic returns to facilitate the country’s economic recovery.

He further said that after several discussions, they resolved to give topmost priority to the vaccination of Ugandans against Covid-19.

This will eventually speed up the process of reopening the economy so that it becomes fully operational.

‘’We now have all the required vaccines for the first targeted group. Encourage Ugandans to get the vaccines. There has been a lot of fake news against vaccination I was vaccinated and I am here. It is those that are not vaccinated that will die from Covid-19,’’ he said.

More to that, he said vaccination will help re-open the economy. Apparently, the country has lost a lot of revenue in closing the night economy.

He said if they don’t reopen the night economy, the country will struggle to recover the economy.

He said there is empirical evidence that money actually moves more at night than during the day.

Ramathan Ggoobi also cited the continued closure of schools which is costing the government over Shs240b in the tax revenue it gets from schools.

On top of that, he also said the manufacturing and tourism sectors are some of the sectors with high economic returns. They have identified them for prioritization in the budget for the 2022/2023 financial year.

Uganda has time and again featured among the top five tourist destinations in the world by international agencies. This is why he thinks it is important to aim focus on this specific sector.

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