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48.1 Trillion budget Approved for 2022/2023

Parliament has approved the proposed 48.1 trillion Shillings National budget for the next financial year 2022/23.The approved budget is an increase of 3.4 trillion Shillings compared to the current financial year budget of 44.7 trillion shillings budget.In the approved budget for 2022/2023, sector allocations see Human Capital Development program which involves Education, Health and Gender sectors taking the biggest share of Shs8.7 trillion, an increase of Shs1.2 trillion from the ending Financial Year budget of Shs7.5 trillion.

This is followed by the security and governance both sharing 7 trillion shillings, integrated transport and infrastructure services taking a portion of 4.1 trillion shillings, agro industrialization Shs1.2 trillion, Private Sector Development 1.59 trillion, Development Plan Implementation 1.23 trillion and Regional Balanced Development 1.19 trillion.

Others are Legislation, Oversight and Representation 724.6 billion, Natural Resources, Environment, Climate Change, Land and Water 617.4 billion, Administration of Justice 393.5 billion, Manufacturing 352.8 billion, Sustainable Urbanization and Housing 344.2 billion and Public Sector Transformation 206.2 billion shillings.

The least funded programs are Tourism Development 197.1 billion, Digital Transformation 83.13 billion, Community Mobilization and Mindset Change 73.4 billion, Mineral Development 31.2 billion and Innovation, Technology Development and Transfer 20.73billion.

The chairperson of the Parliamentary Budget Committee Patrick Isiagi says that the budget for the next financial year is going to increase by 5 trillion from this ending budget of this financial year of 43 trillion shillings.

The budget is expected to be financed through revenue collections by Uganda Revenue Authority of 25. 7 trillion shillings, grants of 2.1 trillion shillings, domestic borrowing of 7.1 trillion shillings

Domestic borrowing accounts for 12.9 trillion shillings, external borrowing 7.1 trillion shillings and the revolving fund of UWEP 34.14 billion shillings.

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MEGA MILK

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