2013/2014 Budget Passed Top story

2688 Views Kampala, Uganda

In short
Parliament has this afternoon passed the 2013/2014 financial year budget.

Parliament has this afternoon passed the 2013/2014 financial year budget.

The House has for all of this week been handling several bills leading to the passage of the budget, three months after Finance Minister Maria Kiwanuka tabled it before Parliament.

The bills included the Value Added Tax and bill and the Excise Tariff Act which were passed yesterday.

Today morning Parliament approved money to different sectors before passing the Appropriation Bill 2013.

State Minister for Finance Fred Omach noted that the object of the appropriations bill is to provide for authorization of the public expenditure from the consolidated fund of the sum of 12.55 trillion shillings for financial year ending on June 30, 2014. Parliament adopted the bill without any amendments and passed it.

Speaker of Parliament Rebecca Kadaga noted that there is need to improve on the speed at which policy statements get to Parliament, how members respond to the invitations to meetings and being committed to committee work.

She noted that lack of commitment delayed the passing of the budget.

//Cue in: “Honorable members……
Cue out:…..able to do it.”//   
The Budget    
On June 13, Finance Minister Maria Kiwanuka presented the 2013/2014 budget to Parliament, with road and education sectors taking up the bulk of the allocations suggested for this financial year.
Kiwanuka allocated close to 2.4 trillion shillings to roads and transport sector, while 1.8 trillion shillings went to education. The two sectors also took the biggest chunk of the budget last year. Out of a total of 11.15 trillion shillings in the 2012/2013 financial year budget, Kiwanuka allocated Education 1.669 trillion shillings, representing 17 percent of the total envelope. The Road sector took 1.6 trillion shillings.  
Other proposals in the budget presented at Serena Hotel in Kampala include plans to repair 1,670 kilometres of roads of paved roads and another 9,000 kilometres of unpaved roads in the next financial year.
The total resource inflows for the Financial Year 2013/14 were projected to amount to 13.16 trillion of which domestic sources will contribute 10.5 trillion representing 81.1% of the total budget for the year.
The Uganda Revenue Authority is to collect taxes amounting to 8.48 trillion, while 275 billion shillings will come from Non-Tax Revenues. The other local sources include issuing of Government securities worth 1.04 trillion shillings among others.
Total external financing of the Budget will amount to 2.6 trillion shillings or20 percent of the total projections. Budget support comprises of 213 billion while Project aid amounts to 2.44 trillion.
The minister noted that there is need to examine non- traditional sources of financing in light of declining external budget support.