Uganda's parliament has approved the government's plan to raise spending by 10% to 52.73 trillion shillings ($14 billion) in the 2023/24 fiscal year, the Finance Ministry said.
Ugandan law requires lawmakers to approve the government's spending plans for a specific fiscal year before they are officially laid out in a budget speech. The fiscal year runs July-June.On Thursday, parliament approved proposed overall spending for that fiscal year, the Finance Ministry said on Twitter on Thursday.
Opposition lawmakers have accused the government of heavily relying on borrowing to pay for spending. "Borrowing has significantly increased over the years, thence gradually increasing the cost of credit. This has undermined the private sector whereby the acquisition of credit has become expensive," Mathias Mpuuga, official leader of the opposition in parliament, said on Twitter as part of their response to the proposed spending.
The government defended its borrowing, saying it was necessary for infrastructure and other development projects.
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