The Minister of Finance, Hon. Matia Kasaija, will today deliver the National Budget for the Financial Year 2024/2025.
Parliament approved the national budget totaling Shs72.136 trillion, an increase of Shs14.050 trillion from the initial proposal of Shs58.34 trillion. This budget includes Shs18.9 trillion for recurrent expenses and Shs34.7 trillion for development expenses.
Key funding sources include Shs32.3 trillion from domestic revenue, Shs1.3 trillion from grants and loans, Shs8.9 trillion from domestic borrowing, Shs9.5 trillion from project support, and Shs19.8 trillion from domestic debt refinancing.
Major Allocations:
Human Capital Development: Shs9.9 trillion (26.3% of the budget) for education, healthcare, and skills development.
Governance and Security: Shs9.1 trillion (24.2% of the budget) to support law enforcement and national security.
Integrated Transport Infrastructure and Services: Shs5.1 trillion.
Development Plan Implementation: Shs2.3 trillion.
Private Sector Development: Shs2.0 trillion.
Sustainable Energy Development: Shs1.053 trillion.
Administration of Justice: Shs481.4 billion.
Legislation, Oversight, and Representation: Shs978.6 billion.
Climate Change and Environment Management: Shs682.6 billion.
Digital Transformation: Shs230.9 billion.
Other Notable Allocations:
Uganda Secondary Education Expansion Project: Shs362 billion for constructing 60 new schools and expanding 61 existing ones.
Parish Development Model: Shs1.077 trillion to support microenterprises.
Social Assistance Programs: Including Shs121.218 billion for Social Assistance Grants for Empowerment (SAGE) and Shs13.2 billion for Special Grants for Persons with Disability.
Industrialization and Agriculture:
Support for SMEs and Agro-Processors: Shs174.99 billion for SMEs in manufacturing and export, Shs155.6 billion for industrial parks, Shs50 billion for the Agriculture Credit facility, and Shs85.92 billion for the Uganda Development Bank.
Commercializing Agriculture: Shs24.43 billion for breeding and seed production, Shs13.1 billion for animal feed production, Shs60 billion for livestock disease control, and Shs24.1 billion for agricultural research.
Other Notable Budget Allocations:
Bank of Uganda Recapitalisation: Shs603 billion to strengthen the central bank’s financial position.
Domestic Arrears: Shs200 billion allocated to settle domestic arrears.
Domestic Debt Repayment: Shs9.1 trillion under the Bank of Uganda for domestic debt repayment.
External Debt Repayment: Shs3.1 trillion allocated for repaying external debt.
Interest Payments: Shs9 trillion for interest payments on national debt.
Appropriation in Aid: Shs293.9 billion.
Others appropriations include
Uganda Women Entrepreneurship Programme (UWEP): Shs13.056 billion as a revolving fund to support women’s enterprises.
Jua-kali Enterprises: Shs3 billion to help transition informal sector businesses into the formal economy.
Enterprise Funds for Older Persons: Shs5 billion to support older entrepreneurs.
Special Grants for Persons with Disability: Shs13.2 billion.
Youth Livelihood Programme (YLP): Shs8.7 billion to support youth entrepreneurship and employment initiatives.
Resource Enhancement and Accountability Programme (REAP): Shs151.27 billion to enhance resource mobilization and improve service delivery.
Infrastructure Development for Industrial Parks: Shs155.6 billion to develop infrastructure in industrial parks.
Capitalization of Agriculture Credit Facility: Shs50 billion to support farmers, especially those focusing on value addition.
Capitalization of Uganda Development Bank: Shs85.92 billion to support agriculture and private sector development.
Breeding and Seed Production (NAGRC&DB): Shs24.43 billion for breeding, production, and multiplication of animal seed and poultry.
Animal Feed Production: Shs13.1 billion for production on government ranches and farms.
Livestock Disease Control: Shs60 billion for managing and controlling livestock diseases, vectors, and parasites.
Agricultural Research: Shs24.1 billion for research products and services suited for food, feed, market, and industry.
Agricultural Research Infrastructure Development: Shs11.39 billion for developing infrastructure to support agricultural research.
The Ministry of Finance notes that the budget will be funded through domestic revenue, budget support, and petroleum fund transfers, focusing on peace, security, infrastructure, and boosting household incomes.
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