Government Proposes Shs3.5 Trillion Supplementary Budget to Address Budget Shortfalls
PARLIAMENT,(UG)-The government has tabled a supplementary schedule requesting parliamentary approval for a Shs3.5 trillion borrowing plan.
This financial maneuver aims to address previously unfunded priorities and shortfalls in the 2023/2024 budget, according to the State Minister for Finance (General Duties), Henry Ariganyira Musasizi.
Musasizi while tabling the supplementary budget during plenary yesterday, emphasized the urgency of approving the same, noting that the funds are crucial for various sectors, including the renewal of National Identification Cards under the National Identification and Registration Authority (NIRA) and the upcoming population census in 2024. He revealed that Shs1.5 trillion has already been expended under the 3% financial window.
Despite initial assurances from the Ministry of Finance about reducing such supplementary requests, Musasizi justified the move, explaining that critical items were initially omitted from the budget, but added that the government is committed to maintaining efficiency and not exceeding the 3% limit.
The supplementary budget proposal occurs against the backdrop of the ongoing fiscal year’s budget, totaling Shs52.7 trillion.