Minister of State for Finance David Bahati and his colleagues appearing before the parliamentary committee on Wednesday (PHOTO / courtesy).
KAMPALA – Minister of State for Planning David Bahati appeared on Wednesday January 15 before the Parliamentary Committee on Finance, Planning and Economic Development, chaired by the Hon. Henry Musasizi in collaboration with teams from the National Planning Authority (NPA) and the Public Procurement and Disposal of Public Assets Authority (PPDA) to present their budget framework documents for the 2020/21 fiscal year.
The budget for the NPA for fiscal year 2020/21 will be UGX33.56b while that for the PPDA will be UGX24.8b.
Bahati said the priorities of the National Development Plan (NDP III) remain agriculture, tourism, minerals, petroleum and manufacturing in addition to the development of human capital and infrastructure.
According to NPA President Professor Pamela Mbabazi, the government has proposed five objectives to further the objectives of NDP III, namely: increase added value in key growth opportunities, strengthen the private sector to stimulate growth and create jobs, consolidating and increasing stocks and the quality of productive infrastructure, as well as strengthening the role of the State in guiding and facilitating development.
Bahati assured the country that Uganda is still on the way to reaching middle-income status, adding that the stock of national debt to GDP is 36%, which is a better performance compared to other countries in the country. the region.
He added that Uganda will not go beyond 50% of the debt-to-GDP ratio in the next 10 years.
He also said the cost of money remains a challenge and that the government is determined to capitalize the Development Bank of Uganda (UDB) to the tune of 500 billion over the next three years so that Ugandans can access at affordable credit.
The PPDA, meanwhile, focuses on the implementation and deployment of online public procurement. Online public procurement is expected to be operational on March 31, 2020 in the 10 pilot supply and disposal entities, while deployment to central government entities will begin on July 1, 2021 and on July 1, 2022 for governments local.