Uganda’s GDP per capita increased to USD 1,046 (Shs3.7 million) per person per year, according to Finance Minister Matia Kasaija.
The size of economy expanded to Shs162.1 trillion (USD 45.7 billion).
Inflation rose from 2.7 per cent in January 2022 to 6.3 per cent in May 2022.
The shilling depreciated by 1.7 per cent in three months to June 2022 and by 6.7 per cent against the dollar between June 2021-June 2022.
Revenue collection FY2021/22: Shs22.425 trillion, shortfall of shs939 billion.
No new taxes in FY2022/23
Zero rental income tax for those earning rental income below Shs2.82m
Rental income rate of 12% for earnings exceeding Shs2.82m
Tax exemptions for supply of oxygen cylinders, assistive devices for PWDs, supply of airport user services
Cash basis accounting for suppliers to Government
NIL stamp duty on the following:
Agreements relating to deposit of title deeds or personal property as security for borrowing
Agricultural insurance policy
Security bond or mortgage bond
Reduced excise duty on opaque beer and fermented beverages to 12% or shs150 per litre
Budget allocations FY2022/23
Shs3.897 trillion improvement of security and security infrastructure
Shs1.059 trillion for Parish Development model
To enhance anti-corruption drive: Justice, law and order: Shs1.432 trillion
Shs381.6 billion judiciary
Shs95 billion for DPP
Shs876.4 billion for Uganda Police
Shs308.7 billion for Uganda Prisons Service
Shs79.4 billion IGG
Shs628 billion to mitigate climate change
Shs564.39 billion boost agriculture production
Shs1.449 trillion agro industrialisation, standards and market entry
Shs194.7 billion tourism
Shs904.1 billion development and commercialisation of minerals, oil and gas
Shs1.027 trillion water and environment sub programme
Shs4.14 education and skilling
Shs274.4 billion advancing innovation
Shs4.3 trillion transport and infrastructure
Shs1.573 trillion power infrastructure
Shs124.2 billion digitalisation
Shs495 billion salaries of medical workers, scientists and science teachers
Shs5.1 trillion decentralisation, funding local government
Total revenue: Shs48, 130.7 billion
Domestic revenue: Shs30, 797.3 billion; (63% of total resource envelope) of which tax revenue is 23,754.9 billion and Shs1, 795.9 billion is non-tax revenue
Total expenditure: 48,130.7 billion, less domestic debt refinancing and Appropriations in Aid amounting to Shs39, 884.2 billion.
At the end of December 2021, total public debt stock: Shs73.5 trillion; External debt stood at shs45.72 trillion; Domestic debt stood at 27.77 trillion
Nominal debt to GDP ratio of 49.7 per cent
