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.
More investment in research and genetic development of selected value chains for animal, fish and crop varieties; to procure and distribute 44 million doses of vaccines against foot and mouth disease.
Enhance the conservation of Uganda’s 22 Wildlife Protected Areas with a focus on the mitigation of human wildlife conflicts. Government is going to construct an additional 150 kms of electric fence and maintain the existing 106-km fence; carry out boundary surveillance through more than 13,904 patrols; uproot invasive species and construct four water dams in protected areas.
Madam Speaker, other Government support under the pathogen economy has been directed towards the following special initiatives: The National Mining Company has been incorporated as a commercial vehicle for investment and trading in minerals on behalf of Government; The thermal insulation plant for heating the EACOP in Tabora Tanzania was commissioned in March 2024;
Continued construction of the EACOP including the necessary infrastructure to facilitate adherence to high quality environmental standards; 90 percent completion of Kabalega International Airport in Hoima; the remaining 10% comprises of critical air navigation, meteorology, communication and airport operational facilities;
Completed 46 percent construction works for Search and Rescue Centres at Kaazi and 25 percent at Kaiso, Panyimur and Zengebe landing sites; andWith regard to railway transport, the following were accomplished during FY2023/24;28 percent completion of rehabilitation of the Tororo-Gulu Metre Gauge Railway;
Commencing the upgrading/construction of 643 km of the following road projects: Kisoro-Lake Bunyonyi Road and Kisoro-Mgahinga National Park Headquarters Road ; Koboko-Yumbe-Moyo ; Yumbe-Ure Road ; Kitgum-Kidepo ; Namagumba-Budadiri-Nalugugu Road ; Katine-Ochero Road and 2.
Continuing with the ongoing construction of up to 30 bridges and structures on the national roads including Alla Gazi , Aca , Lugogo Swamp Crossing, Nabukhaya, Nambola, Nametsimeri, Sahana and Khamitsaru Bridges, Rubongi Bridge, Maziba, Kiruruma, Rwembyo and Kajwenge Bridges, Kamirwa, Nyakambu, Kochi, Osu, Odrua, Dunga, Mahoma, Mpanga, Nabuswa and Perepa Bridges, among others.
Leveraging Business Process Outsourcing and ICT to create employment opportunities for the young people;Madam Speaker, the country’s power generation capacity has increased by 600MW from 1,378.7MW to 1,978.1MW following the connection of Karuma Hydropower Dam to the national grid. The electricity transmission capacity has now increased to 4,218 km of high voltage from 3,500 km in 2020.
Four tea factories have been supported to expand and process tea for both domestic market and export. These are: Kayonza Growers Tea Factory; Kigezi Highland Tea Factory; Mabale Growers Tea Factory; and Mpanga Growers Tea Factory; Madam Speaker, Government is also continuing to develop industrial parks to provide investors with the required infrastructure and utilities. Work is progressing in the Namanve Park ; Liao Shen Park in Kapeeka ; Sino-Uganda Industrial Park in Mbale ; Luzira Park ; Bweyogerere Park ; and MMP in Buikwe . have been invested in these parks in the form of Foreign Direct Investment. Over 266,812 direct and indirect jobs have so far been created.
Starting construction of Regional Courts of Appeal in Mbarara and Gulu; High Courts in Hoima and Mpigi; Chief Magistrate Courts in Amolatar, Bubulo, Rakai and Katine; and Magistrate Grade One Courts in Busembatia, Nyarushanje, Rubuguri and Adwari; Maintaining constitutional order, an effective and efficient Judiciary, and a people-centred Legislature;A reformed Government-wide coordination of rationalised Ministries, Departments, Agencies, and Local Governments;Policy consistency to ensure effective implementation of Government programmes and interventions;
Shillings Seventy-Two Trillion, One Hundred and Thirty Six Billion, Five Hundred and Four Million, Two Hundred and Fifty Three Thousand, Four Hundred and Sixty Six Shillings trillionSeventy Two Trillion, One Hundred and Thirty Six Billion, Five Hundred and Four Million, Two Hundred and Fifty Three Thousand, Four Hundred and Sixty Six Shillings Madam Speaker, I have attached the details of the Resource Envelope and Expenditure Allocations by Vote for FY2024/2025.
Increase excise duty on imported wines from 80 percent or Shs 8,000 per litre to 100 percent or Shs 10,000 whichever is higher. We have extended the waiver of penalties and interest on arrears outstanding by June 2023. This waiver will apply when the taxpayer pays between July and December 2024; and Nonetheless, the ratio of total debt service to domestic revenue excluding maturing domestic debt is projected to increase to 40.3 percent in FY2024/25 from 33.4 percent in FY2023/24, above the threshold of 20 percent. This is the reason Government has committed to exercising caution in borrowing to ensure debt sustainability by implementing the following measures:
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