By George Williams, 24/Jan/2024
The Committee on Budget has today interfaced with the officials from the Ministry of Finance, Planning & Economic Development who were led by State Ministers of Finance, Hon Amos Lugoloobi & Hon Henry Musasizi over issues arising from the scrutiny of the Budget Framework Paper for the Financial year 2024/2025. The budget ceiling for the next financial year (2024/25) is Shs52.7 trillion.
However contrary to Auditor General Report which put the public debt at 96 trillion, Ministers Henry Musasizi said that the verified public debt stood at Shs 86.3trillion as opposed to Shs96 trillion as indicated in the Auditor General’s report. He said that the difference presented by the Auditor General is probably due to inclusion of domestic arrears.
Minister Musasizi also clarified on the tax levies for gold saying that the Ministry is studying all modalities regarding gold taxation and will present a Paper by March 2024.
The budget frame work paper was tabled before Parliament in Dec 2023 and has been scrutinized by various committees of Parliament which presented their reports to the Budget Committee.
The Budget Committee after interfacing with the Ministry of Finance will present its report to Parliament form which various Ministries shall prepare Ministerial Policy statements that will be also debated in various committees of the house.
