Full Monetisation of Uganda’s Economy through Commercial Agriculture, Industrialisation, Expanding and Broadening Services, Digital Transformation and Market AccessMadam Speaker, in fulfillment of Article 155 of the Constitution and on behalf of His Excellency the President, I rise to present to Parliament and to the nation at large, the Budget for the Financial Year 2024/2025 as approved by Parliament.
In order to consolidate the gains so far achieved, the theme for the coming financial year has been maintained as: Growth in industry was mainly driven by manufacturing, construction and mining, while increased production of food and cash crops, as well as livestock supported growth in the agriculture sector. Agriculture’s performance, estimated to have expanded at 5.1 percent this year compared to 4.5 percent registered in FY2022/23, is attributed to streamlined implementation of the Parish Development Model ; and fairly good weather conditions.
Madam Speaker, in the financial year ending, Uganda imported goods worth USD 12.9 billion compared to USD 10.3 billion in the year ending April 2023. This increase in imports was largely driven by an increase in private sector imports of 23 percent, mainly to develop our nascent oil and gas sector.Madam Speaker, the inflow of Foreign Direct Investment to Uganda amounted to USD 2.46 billion in FY2022/23 and by December 2023/24, additional FDI amounting to USD 1.27 billion had been attracted.
Agro-industrialisation and light manufacturing supported by access to affordable credit through Uganda Development Bank , investments supported through Uganda Development Corporation ; the Parish Development Model, Small Business Recovery Fund, , the Presidential Industrial Hubs for Youth Entrepreneurs, and programmes to support exporters as well as growth and productivity of women enterprises;
To minimise the effects of these risks, Government is implementing climate change adaptation measures, exploring cheaper sources of financing including climate finance, and ensuring frugality in Government expenditure.
Promotion and implementation of interventions for the disease prevention and health education initiatives against communicable, non-communicable and neglected tropical diseases and injuries;Improvement of the welfare of the health workers including medical interns and doctors designated as senior house officers.
Strengthening of the network of medical reference laboratories including the establishment of the East African Community Regional Centre of Excellence for Virology at the Uganda Virus Research Institute, and the National Public Health Institute in Uganda.Madam Speaker, Government considers education as a key opportunity equaliser for Ugandans, equipping them with knowledge and skills required for productive employment as well as enabling them to live longer, happier and affluent lives.
Providing loans to 5,192 degree and 1,125 diploma students who are on the Government-funded loan scheme, both continuing students and new beneficiaries; andMadam Speaker, in the year we are concluding Government has provided social protection as follows: Through the National Special Grant for Persons with Disabilities, Government is supporting 6,282 enterprises, benefitting 49,372 persons with disabilities.
Construction of 52 large solar-powered water supply systems in 19 districts that are currently at less than 50 percent water coverage. These are Agago, Yumbe, Amudat, Kaabong, Bulambuli, Buvuma, Buyende, Namayingo, Rakai, Nakaseke, Sembabule, Kibaale, Kasese, Kyegegwa, Mubende, Lyantonde, Kakumiro, Kassanda and Kisoro.
Progress the construction of 26 water supply systems at various stages in Manafwa , Mukura , Kidera , Atutur , Kadungulu , Kaproron , Iyolwa , Bukumi , Rubaya – 50 percent, Bethlehem-Nabigasa Phase 1-50 percent, Kabura-Mwizi Phase 1 – 50 percent, Mabira – 50 percent, Bukiro – 50 percent, Nyabisirira – 50 percent, Bugarama-Karweru – 50 percent, Rwere-Kateretere – 50 percent, Kagarama-Bushura-Kibuzigye – 50 percent, Nyanseke , Busaale , Kibuzi , Adilang, Puranga , Kasawo-Phase 1 ,...
A total of 15 million seedlings of assorted tree species shall be procured and distributed to individual farmers in several districts, as well as to refugee-hosting communities in the Albertine region and in West Nile, as well as individual farmers. has so far been provided. The money is being transferred directly to the beneficiaries in 10,585 parishes across the country.
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