The Minister of State Finance and Planning, Amos Lugoloobi on Thursday afternoon presented the budget estimates for the 2022/2023 financial year totaling Shs 47.2 trillion.
In his presentation during Plenary Sitting, Lugoloobi asked the lawmakers to consider the economic environment in which the budget was prepared, citing the inability to borrow over 53.9 percent.
Deputy Speaker of Parliament, Thomas Tayebwa referred the budget estimates to the Parliament’s Committee on Budget and relevant sectoral committees for further scrutiny within the requisite timeline.
“I request that you look at Rule 148 and 149 of our Rules of Procedure to ensure you report in time,” he said adding that, “we shall give you enough time to handle the budget at committee level. We shall not have plenary sittings”.
Parliament approved the National BFP on 28 January 2022 and this formed a basis for the finalization of budget estimates for 2022/2023.
The Shadow Minister of Finance, Muwanga Kivumbi, also the Butambala County legislator observed that that the Ministry of Finance, Planning and Economic Development have performed well urging that such standards should be kept.
“We are reaping benefits from former committee chairpersons appointed ministers. This should be a learning curve to the appointing authority that picking among us, things move smoothly because they know the technical know-how,” says Kivumbi. He however, added that the Treasury Memoranda and list of accounting officers should have been sent to legislators earlier, calling on committees to do the right thing when scrutinizing the documents.
The Public Finance Management Act requires the Minister of Finance to present annual budget estimates by 01 April of the preceding year.