Keith Muhakanizi
The secretary to the treasurer, Keith Muhakanizi revealed that government has managed to save over UGX 200bn in the ending financial year which is to be used to fund other government programmes. Muhakanizi while responding to questions from journalists, said, the fund arose from checking on power government spending, coupled with efforts to combat graft among different government institutions.
He also noted that with the next financial year starting tomorrow, it is this week that finance will be releasing funds for the 1st quarter to all government agencies and departments and urged all accounting officers to account for the resources very well. Muhakanizi added that government will not over shoot the expenditure for this starting financial year so as to enforce proper financial discipline.
Matia Kasaija
In another meeting, the Finance Minister, Matia Kasaija and the Central Bank governor have come out to give clarity on the UGX 23,972 bn budget saying the passed figure included provisions for the domestic debt repayment of amount UGX. 4,787 Bn for government treasury bills and bonds which will be rolled over as and when they mature in the course of next financial year.
At a news conference held in Kampala today, the Finance Minister made it clear that provisions for the domestic debt repayments is a requirement of the new Public Finance Management Act 2015, adding that the real budget expenditures for the next financial year starting tomorrow total to UGX 19, 184bn and it is upon this factor that the Minister calls on Ugandans to pay taxes to enable government fund its programmes.
However on the issue of exchange and weakening of the local currency, the Minister and the governor attributed the matter to the strengthening of the dollar against other currencies coupled with large sums of imports over exports made by Ugandans. The economists called on Ugandan manufactures among other business community members to increase on exports to help save the shilling from further depreciation which has caused negative impacts to people’s businesses.