Summary:
- Minister Musasizi explained that from the domestic resources earmarked for the 2024/25 financial year, totaling UGX 31.982 trillion, the government is fully capable of meeting its financial obligations, including debt repayments (both principal and interest), as well as wage payments, pensions, gratuities, and security expenditures.
KAMPALA: The Minister of State for General Duties, Henry Musasizi Ariganyira, has strongly refuted claims made by Political and Human Rights Activist Colonel Dr. Kizza Besigye Kifeefe, and circulated by some media platforms, suggesting that the Government of Uganda is so indebted it has resorted to borrowing money to pay salaries.
“I want to clarify to the citizens of Uganda that our budget is prepared based on sound, internationally recognized principles,” said Minister Musasizi during a media briefing at the Uganda Media Center on Tuesday, October 22, 2024.
Minister Musasizi explained that from the domestic resources earmarked for the 2024/25 financial year, totaling UGX 31.982 trillion, the government is fully capable of meeting its financial obligations, including debt repayments (both principal and interest), as well as wage payments, pensions, gratuities, and security expenditures.
He also noted that Uganda’s economy continues to grow, highlighting the recently released GDP figures for the second quarter of 2024 (April to June), which showed a 6.6% growth.
Additionally, inflation stood at 3% for the year ending September 2024, well within the target rate of 5%. Minister Musasizi emphasized that the Ugandan shilling has also remained relatively stable against the US dollar.
