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@kfm Mon, 18 Dec 2023 13:55:23

Govt to borrow Shs13 trillion to fund next financial year’s budget

The Minister of State for Finance (General Duties), Mr Henry Musasizi tabled the 2024/25 National Budget Framework Paper, highlighting government’s intention to borrow over Shs13 trillion to fund the  Shs52.722 trillion budget. The Minister revealed that the projected budget for 2024/25 would amount to Shs52.722 trillion, compared to the Shs52.736 trillion approved budget for financial year 2023/24, thus indicating a decline of Shs14.10 billion. “The total resource envelope of Shs52.722 trillion is comprised of domestic revenues equivalent to Shs 29.957 trillion, budget support amounting to Shs 28.94 billion, domestic borrowing amounting to Shs 4.116.02 billion, external project support worth Shs8.876.87 billion, while domestic refinancing (roll-over) of Shs9.455Trn and local revenue for Local Governments (AIA) of Shs287.10 billion,”  the document reads […]

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