Uganda Sees 2024/25 Spending Rising Marginally On Current Year

Uganda’s government plans spending of 53.3 trillion shillings ($13.74 billion) in the fiscal year that starts in July, up about 1% on the current year’s spending, the finance ministry said on Tuesday.

In the 2024/25 fiscal year the government plans to direct a greater share of development expenditure to improving roads, railways and infrastructure in the oil and gas sector, the ministry said in a document laying out spending proposals.
Uganda aims to start commercial oil production in 2025, and oil sector investments have been one factor supporting economic growth alongside improved agricultural production.
The finance ministry forecast the economy would expand 6.4% in 2024/25 compared with 6% in 2023/24, a similar 2024/25 projection to one given by the finance minister in September.
($1 = 3,880.0000 Ugandan shillings)

Reuters/ Patience Ameh