The 2022/2023 Budget will focus on security, economic recovery, implementation of the Parish Development Model and agro-industrialisation among others.
The Minister of Finance, Planning and Economic Development, Hon. Matia Kasaija said Shs3.987 trillion will be provided for the improvement of security and security infrastructure.
He said the funds will support the UPDF in managing cross-border conflicts, insecurity in certain parts of the country and improving on welfare including the enhancement of pay.
“The surge in cattle theft and cross-border conflicts in Karamoja sub-region will be addressed with a budget of Shs112.5 billion; then there is the pacification of the Eastern Democratic Republic of Congo in line with an agreement we have with the country,” he added.
Kasaija noted that there is a planned enhancement in surveillance and crime detection with the second phase of the street camera installation countrywide in cities and on major highways.
The second key focus of the budget, the Minister said, is to implement the Parish Development Model which would advertently integrate the three million households currently in the subsistence economy to the money economy.
According to Kasaija, a total of Shs1.05 trillion has been prepared for the next financial year starting July to implement the Parish Development Model and disburse funds in each of the 10,594 parishes in the country, each receiving Shs100 million as a revolving fund.
“These funds will be earmarked for purchase of agricultural inputs by households still in subsistence in all the parishes around the country,” he added.
Another key area of focus for the Budget in terms of funding will be promoting agro-industrialisation, standards and market entry. Kasaija said the intention is enforce product standards and enabling market access and entry in order to create wealth and jobs.
He said that Shs1.4449 trillion has been earmarked to fund the focus in a variety of ways including, branding and labelling of Uganda’s products for international recognition.
“We will enhance implementation of the export development strategy including carrying out negotiations for access and entry to regional and international markets, establishing industrial parks, investing in strategic industries, expanding the Soroti Fruit factory and establishing 200 aggregation and collective marketing societies among others,” he added.
The Minister said the Government will also invest in commercialization of oil and gas which will mainly involve the construction of the East African Crude Oil Pipeline and this will require Shs904 billion.
He held that the key objectives of the budget will be sustaining peace, security and stability as well as macro-economic stability, mitigation of the COVID-19 impact on business activity and the economy and speeding up the socio-economic transformation by re-purposing the budget towards wealth and job creation.
Speaking during the budget speech reading, President Museveni reiterated that Uganda has attained middle-income status.
“I don’t know why the minister feared to tell you that we have entered the entrance of the middle-income status. I don’t know whether he feared that we shall go back. I don’t think we shall,” he noted.