Business
EAC's $125 million budget presented to EALA
Publish Date: Jun 04, 2014
EAC's $125 million budget presented to EALA
Deputy Minister for EAC, United Republic of Tanzania Dr. Abdallah Sadala Abdallah delivers the Budget Speech. Speaker Zziwa is in background. Courtesy Photo
  • mail
  • img
newvision

By Vision Reporter

The EAC Council of Ministers today presented Budget estimates for the Financial Year 2014/2015 totalling $124,069,695 to the East African Legislative Assembly sitting in Arusha.  
 
Dr. Abdallah Sadala Abdallah, Deputy Minister for EAC, United Republic of Tanzania, presented the Budget Speech on behalf of the Chair of the EAC Council of Ministers, Phyllis J. Kandie to an attentive House. 

The 2014/2015 Budget down from $130 Million in the previous Financial Year, prioritizes operationalisation of the single Customs Territory including the setting up of an institutional framework to manage it, the full implementation of the EAC Common Market Protocol with particular focus on free movement of goods, services, labour and capital as well as the implementation of the EAC Industrialisation policy.

The Budget is allocated to the Organs and Institutions of the EAC as follows; East African Community Secretariat ($76,074,052), East African Legislative Assembly ($15,489,836) and the East African Court of Justice ($4,582,190).
 
The Inter-University Council for East Africa shall receive ($ 9,411,320), Lake Victoria Basin Commission ($ 13,372,466) while $ 2,813,771 is earmarked for the Lake Victoria Fisheries Organisation.   For the first time, three new Institutions are also set to benefit.   East African Science and Technology Commission shall receive ($ 679,821), East African Kiswahili Commission ($ 722,102) and the East African Health Research Commission ($ 924,067).
 
The FY 2014/2014 Budget is to be financed by Partner State contributions through the Ministries of EAC ($41,890,538); Partner States through other agencies ($5,067,735); Development Partners support ($73,180,446);  IUCEA-Member University ($ 375,190) Ministry of Education-IUCEA Headquarters $1,247,037), General Reserve ($ 2,102,828) and other income ($205,850).
 
FULL BUDGET SPEECH
 
 

East African Community BUDGET SPEECH 2014-2015 by The New Vision

The statements, comments, or opinions expressed through the use of New Vision Online are those of their respective authors, who are solely responsible for them, and do not necessarily represent the views held by the staff and management of New Vision Online.

New Vision Online reserves the right to moderate, publish or delete a post without warning or consultation with the author.Find out why we moderate comments. For any questions please contact digital@newvision.co.ug

  • mail
  • img
blog comments powered by Disqus
Also In This Section
Nigerian cleric warns Uganda over oil curse
Rev Father Edward Obi, a leading civil society activists fighting against the effects of the oil curse in Nigeria has warned Uganda that since oil has been discovered Ugandans are not safe from the negative effects the resource brings....
Oil to spur capital markets – Nsamba
This year marks 18 years since the Capital Markets Authority (CMA) was formed....
UBOS releases Producer Price Index
THE indices for hotels and restaurants indicate that annual prices for hotel services fell by 2.5 percent during the period of April, May and June 2014, compared to the same period in 2013...
KCCA shuts down House of Eden
KAMPALA Capital City Authority (KCCA) together with Uganda National Bureau of Standards have closed House of Eden that manufactures Safi juice and Azur water for allegedly using expired raw materials...
Uganda to host finance meeting for PWDs
Uganda will next month host the first ever conference on microfinance and disability....
More action needed to address women rights in oil region
More action is required to see that disadvantaged women especially those in the Albertine Graben get benefits from oil activities as the industry moves from the exploration into the development phase....
Should the absence of bride price prevent couples from wedding?
Yes
No
Can't Say
follow us
subscribe to our news letter