Ugandan government to address key areas in next budget
The Ugandan government has announced in its 2013-2014 budget that it will allocate most of its resources into production-oriented activities in an attempt to boost the economy. In a paper presented by the minister of finance and economic planning, Maria Kiwanuka, during a stakeholders consultative meeting in Uganda, she stated, “Resource allocations have been prioritised to emphasise production over consumption and additional resources identified will be provided to those areas that lead to investment and growth.”
Among the key areas mentioned in the report include energy, agriculture, transport, innovation, health, safe water and a few others.
Kiwanuka said that the 2013-14 budget framework is based on projections that the economy will grow at 5.6 per cent and gradually rise to seven per cent in the medium term of the year adding that the government also intends to bring down commercial lending rates to provide the necessary capital for private sector investment.
The minister stated that the transport sector will acquire a big share of the next budget as the government plans to fund major road projects, which include the northern transport corridor, Kampala-Entebbe Expressway and the rehabilitation of Kampala city roads.
The energy sector will also be allocated a big share of the budget and the finance minister said resources will be allocated for the construction of Karuma hydro power project in northern Uganda and increase allocation to the rural electrification programme.
More funds will also be availed for the provision of extension services, research and development of high yielding and disease resistant crop varieties.