Government Suffers Sh269b Budget Shortfall, MPs Told
Mar 07, 2003
GOVERNMENT suffered a budget shortfall of over sh269b during the first half of the financial year 2002/2003, the parliamentary budget committee revealed,
GOVERNMENT suffered a budget shortfall of over sh269b during the first half of the financial year 2002/2003, the parliamentary budget committee revealed, reports Richard Mutumba.
The report of the House committee on the national budget performance for the first half of the fiscal year approved by the committee yesterday, revealed that the largest single shortfall was due to less funding from loans.
“External support loans amounted to sh163.7b against the targeted sh373b, registering a shortfall of sh209.59b†the committee reported.
Chaired by Beatrice Kiraso (Kabarole), the committee noted that as the Government is progressively moving towards budget-support mode of funding as opposed to project-support, the poor performance of external budget support loans was worrying. Only 16% of the budget support loans were received. However, 100% of project support loans were received.
The committee report revealed that taxes paid by government to the Uganda Revenue Authority fell by 50%. Of the sh9.94b targeted, only sh5.02b was remitted.
Ends
The report of the House committee on the national budget performance for the first half of the fiscal year approved by the committee yesterday, revealed that the largest single shortfall was due to less funding from loans.
“External support loans amounted to sh163.7b against the targeted sh373b, registering a shortfall of sh209.59b†the committee reported.
Chaired by Beatrice Kiraso (Kabarole), the committee noted that as the Government is progressively moving towards budget-support mode of funding as opposed to project-support, the poor performance of external budget support loans was worrying. Only 16% of the budget support loans were received. However, 100% of project support loans were received.
The committee report revealed that taxes paid by government to the Uganda Revenue Authority fell by 50%. Of the sh9.94b targeted, only sh5.02b was remitted.
Ends