This afternoon, President Yoweri Museveni, in accordance with Article 155(1) of the Constitution of the Reublic of Uganda and the Public Finance Management (PFM) Act 2015 delegated Ntenjeru North Member of Parliament Amos Lugolobi the duty to present the Budget Speech for the Financial Year 2021/22 Budget.
The 10th Parliament in May approved the Shs44.7 trillion budget for the 2021/2022 financial year, decreased by Shs714 billion.
According to the report of the Budget Committee, the drop this financial year is largely attributed to the projected decrease of shs2.4 billion in external financing for project support.
The report, presented during a plenary sitting chaired then by Speaker Rebecca Kadaga on 7 May 2021 stated that the budget is expected to be financed by domestic revenue constituting 76.7 per cent and 23.3 per cent of external revenue.
Then chairperson of the Budget Commitee told Parliament that Shs200 billion will be drawn from the Petroleum Fund to specifically finance oil road infrastructure.
Find the full budget speech attached.