Domestic Sources To Contribute 81% Of 2014/15 Budget

2218 Views Kampala, Uganda

In short
Minister Kiwanuka says the total resource envelope for next year is projected to be 15.054 trillion shillings. Domestic sources will contribute 12.32 trillion representing 81.8% of the total budget resource for the year. The Uganda Revenue Authority (URA) will collect taxes amounting to 9.57 trillion, while Non-Tax Revenues will be 206 billion shillings.

Reading of the 2014/15 financial year budget is underway with finance minister Maria Kiwanuka noting that the revenue and expenditure framework for the Financial Year is in line with the recent trends in the domestic, regional and international economy.
 
The minister says the total resource envelope for next year is projected to amount to be 15.054 trillion i shillings. Domestic sources will contribute 12.32 trillion representing 81.8% of the total budget resource for the year.
 
The Uganda Revenue Authority (URA) will collect taxes amounting to 9.57 trillion, while Non-Tax Revenues will be 206 billion shillings. Minister Kiwanuka says the Budget will also be financed by issuing Government securities worth 1.43 trillion shillings on domestic markets; and net Government drawdown from savings amounting to 1.1 trillion shillings.
 
Kiwanuka says total external financing of the Budget will amount to over 2.7 trillion shillings, equivalent to 18.2 per cent of the total budget resources. Budget support comprises of 69 billion shillings while Project aid amounts to 2.66 trillion, an increase of 116.3 billion shillings over the 2013/2014 financial year.

Minister Kiwanuka is still presenting the budget....