FDC wants committee to discuss country's debt crisis

The Forum for Democratic Party says there is need for special committee to discuss the debt burden of the country before it gets out of hand.

The party's deputy spokesperson, Paul Mwiru said there is need for an independent committee comprising of the private sector, economic experts, analysts and government, to discuss the issue of debts for the country and come up with a lasting solution.

Addressing journalists at the party headquarters in Kampala yesterday, Mwiru said the country is likely to face more problems in future of which the burden always be on the innocent tax payers who do even benefit from "these loans".

"It is surprising that our debts are more than our budget. Can you imagine? The biggest challenge is that these loans are not utilized for the intended purposes. This has been indicated through the Quarterly Budget Performance reports. We think there is a problem that needs to be addressed. Otherwise our country risks to be mortgaged," Mwiru added. 

Uganda currently has debt hitting sh37trillion; yet the total budget for the financial 2017/18 is sh29trillion.

Mwiru also noted that government needs to start investing money where it will get profits than spending money on things which do add nothing to the growth of the economy.

"We are so disappointed that government only injected sh863bn in the agriculture sector; which is the back bone of the country. We need to promote commercial agriculture through supporting our farmers in various ways to boost production," he added