Finance Ministry Officials led by Minister Matia Kasaija appearing before Parliament’s Budget Committee
Ministry of Finance says Uganda Revenue Authority (URA) revenues are projected to increase to Ushs20.84 trillion for FY 2021/22, up from Ushs 20.22 trillion for FY 2020/21.
Finance Minister Matia Kasaija made the remarks this morning while presenting harmonised position on the budget for FY 2021/22 before Parliament’s Budget Committee.
Finance Ministry has also projected growth rate of 4.3% up from projection of 3.1% this FY 2020/21.
“Over the medium term growth is projected to reach between 6.0% to 7.0%,” Kasaija said.
The 2021/22 budget will focus on interventions which will sustain recovery from socio-economic setbacks caused by COVID-19 and other domestic and external shocks.
Total resource envelope for 2021/22 has increased from Ushs 41.30 trillion to Ushs 44.78 trillion.
The increase is on account of increase in external financing (Ushs 2.88 trillion),increase in domestic borrowing ( Ushs 600.2 billion) & slight increase in domestic revenue (Ushs 3 billion).