The highlights of Uganda Budget 2015 – 2016 financial year

Posted by: Kyeyune Andrew Jonathan in Business June 11, 2015

The minister of finance MR Matia Kasaija has announced the Uganda budget for 2015-2016 financial year today at the Serena conference centre and it is refered to as the historical budget.

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The Uganda budget 2015-2016 financial year is over 24 trillion and its the biggest financial budget in the history of Uganda, 12 trillion and 400 billions is to be got from the citizens of Uganda, 5 trillion and 30 billion is to be got from foreign aid and 6 trillion is to be got from loans and this year’s budget is 9 trillions bigger than last year’s budget.

The government of Uganda is to provide 45% only and 55% is to be got from foreign aid and loans especially from the commercial banks than getting it from developed countries.

125.9 billion is given on the land and city development of the country.

The Education sector is given 2 trillion this year including the 15% that was asked by the government teachers.

The Agriculture sector is given 486 billion and 600 million but it is to spend 484 billion.

The parliament of Uganda is given 301 billion and 600 million.

The Technology sector is given 20 billion but 18 billion is to be spent within the sector this year.

The ministry of Judiciary has been given 90 billion and 60 million.

The security ministry is given 1 trillion and a half but it is to spend 1 trillion and 5 billion this year.

The tourism sector is given 73 billion to spend in the financial year 2015-2016.

The transport sector is given 3 trillion and 200 billion this year.

The electricity transmission is given 2 trillion and 7 billion.

The water and environment are given 520 billion.

The Health ministry is given 1 trillion and 200 billion.

Paying debts has taken most of the financial Uganda budget 2015-2016 taking 6 trillion and 400 billion.

More taxes have been put on Ciggarates , Breweries, old cars , those owning passenger vehicles and the informal sector by 10% . The question is; will the above taxed items be a tax base that is efficient for our budget?

The Uganda budget announced today is to begin at 1 July effectively. The East African countries have all announced their budget today apart from Burundi that still has political crisis within but it is expected to read its budget in December.

Tanzania has announced a budget of 19 trillion this year , Kenya has announced a budget of 2 trillion while Rwanda has announced a budget of 1,768.3 billion but Uganda to be different from these countries, it has not only had the biggest budget in the region but also introduced a budget of 2015- 2020 through its book of the National Development Planning that will shift Uganda from the Low Developing Country to a Lower Middle income Country by 2020,” said by the President of Uganda H.E Yoweri Kaguta Museveni.”

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