As the country readies for this year’s yearly budget reading, the Finance minister Hon Matia Kasaija has come out to reveal what it will focus on.
Kasaija said that the full focus will be monetizing the entire economy focusing on commercial agriculture, industrialization, expanding and broadening services and digital transformation
“In the budget for the coming fiscal year 2022-2023, our theme is full monetization of Ugandan economy through commercial Agriculture, industrialization, expanding and broadening services and digital transformation, and market access,” he said as quoted by NBS TV during the National Budget Month Launch.
He further said that this budget will aim at achieving three objectives which will centre around peace and stability. There will so be endeavors to mitigate the effects of the COVID-19 pandemic and enhancing socio economic transformation.
“The budget will aim at achieving three broad objectives; ensuring peace and stability through enhanced security and microeconomic stability as keep foundations for growth and development.
Mitigate the impact of the #COVID19 pandemic through widespread vaccination and support businesses.
Enhance socio-economic transformation by redirecting budget resources towards wealth and Job creation, industrialization, export promotion, and other areas with high returns on investment.”
He further assured the Nation that despite the COVID-19 pandemic, the economy is growing at a steady rate and is slowly recovering.
“Despite the economic recession occasioned by the #COVID19 pandemic, the economy continues to show signs of recovery following the easing of the lockdown.”