Reduce your appetite for borrowing, Opposition MPs tell govt
"We should reduce our appetite for borrowing. If we don't do that, all the collections and revenues will go to debt serv ...
Opposition MPs have appealed to the government to reduce its appetite for borrowing money.
"We should reduce our appetite for borrowing. If we don't do that, all the collections and revenues will go to debt servicing," Sironko West MP Nandala Mafabi warned.
He made the remarks this Tuesday while reacting to the statement by the Leader of Opposition in Parliament Mathias Mpuuga on issues pertaining to half-year releases for financial year 2021/2022.
Mpuuga's statement was presented in Parliament by Butambala County MP Muwanga Kivumbi.
Uganda's public debt stood at sh66.1 trillion as of end of April 2021.
Bank of Uganda attributed the increase to a 33.6% growth in domestic debt and also said public external debt grew by 13.0% largely due to disbursement of loans by multilateral and bilateral creditors.