Thursday, June 13, 2024
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Security Tops Gov’t Agenda in FY 2024/2025 Budget, Receives UGX 9.588 Trillion

Minister of Finance, Planning and Economic Development Hon. Matia Kasaija presenting the National Budget today

KAMPALA– The government of Uganda has prioritized security in its latest budget, allocating a significant UGX 9.588 trillion (approximately USD 2.5 billion) with an aim of strengthening the capacity of security agencies, enhance military capability, and supporting joint military operations in the region.

The budget under the  theme “Industrialization for Job Creation and Shared Prosperity”, which aims at consolidating Uganda’s gains in economic development and accelerate industrialization to create jobs and shared prosperity for all Ugandans, was presented by the Minister of Finance, planning and economic development Hon. Matia Kasaijja.

According to Finance Minister, the economy has fully recovered from various internal and external shocks that impacted performance in the past four years. GDP is projected to grow by 6 percent this financial year 2023/24 compared to 5.3 percent in FY2022/23.

In the budget, the Education sector was allocated UGX 2.497 trillion (approximately USD 668 million) to improve the quality of education, with priorities including:

– Supporting the new curriculum for S1-S4 students

– Operationalization of all seed secondary schools

– Construction of new secondary schools

– Skilling in Science, Technology, Engineering, and Mathematics (STEM)

– Upgrading learning facilities in technical institutes and vocational education centers.

In the health sector, the budget allocated UGX 2.946 trillion (approximately USD 784 million) to enhance health services, with priorities including:

– Promotion of disease prevention and health education initiatives

– Provision of essential medicines

– Improvement of health worker welfare

– Construction of health facilities, including centers for cardiovascular care and oncology

Additionally, the budget allocated UGX 4.989 trillion (approximately USD 1.3 billion) to the transport sector, focusing on maintaining existing roads, building new strategic roads, rehabilitating the Metre Gauge Railway, and commencing construction of the Standard Gauge Railway.

Furthermore, the budget allocated UGX 246 billion (approximately USD 65 million) to the ICT sector, prioritizing digital transformation through expansion of internet connectivity, digital services, and cyber security.

The budget also prioritizes agro-industrialization, allocating UGX 1.878 trillion (approximately USD 500 million) to deepen commercialization and value addition in agriculture, with priorities including research and genetic development, pest and disease control, vaccination, agricultural mechanization, irrigation systems, seed multiplication, and credit support to large-scale commercial farmers.

Moreover, the budget allocates UGX 1.059 trillion (approximately USD 282 million) to the Parish Development Model, providing an additional UGX 100 million per parish to benefit more households and support development projects.

The budget also allocates an additional UGX 100 billion (approximately USD 26.5 million) to the Emyooga program, which has already benefited 607,636 individuals across the country, with UGX 85 billion (approximately USD 22.5 million) saved by beneficiaries to further grow their SACCO funds.

In the mineral development sector, the budget allocates UGX 41.55 billion (approximately USD 11 million) to fast-track quantification and market studies, operationalize the National Mining Company, review and strengthen the fiscal regime for minerals, and develop an e-government mineral production system and data bank.

Additionally, the budget allocates UGX 920.86 billion (approximately USD 245 million) to the oil and gas sector to develop the East African Crude Oil Pipeline (EACOP) hub in Tanga, continue constructing the EACOP with necessary infrastructure to ensure high environmental standards, procure and disseminate 57,000 Liquefied Petroleum Gas (LPG) cylinders to promote clean cooking, establish a Petroleum Geoscience Laboratory, and make an equity contribution to the Refinery Project.

In the natural disaster response and management sector, the budget allocates UGX 18.1 billion (approximately USD 4.8 million) and a Contingency Fund of UGX 146.26 billion (approximately USD 39 million) to support disaster response and management efforts, including operationalizing the National Disaster Risk Management Plan, supporting 50,000 households with food and non-food items, providing funds to the Uganda Red Cross Society, and supporting the resettlement of 1,000 households displaced by landslides and floods in the Elgon Region.


Derrick Kanalo
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