Finance minister Maria Kiwanuka has delivered the 2011/12 financial year budget to Parliament.
The presentation of the budget was held at the Serena conference centre in Kampala
The finance minister presented the budget on behalf of the President who later commented about the figures after the presentation.
Click here to read Museveni's statement on budget day
Kiwanuka’s maiden budget speech put emphasis on infrastructural development and social service delivery.
Education, health, roads and energy sectors will take just over half of the sh8trillion budget planned for the coming financial year.
Time check
At 2:45 finance minister starts delivering her speech giving the background to the budget. She congratulates the Speaker Rebecca Kadaga upon her election.
Economic growth
The total national output of goods and services, the Gross Domestic Products (GDP) rebounded, growing at 6.3 percent compared to 5.5 percent in the previous financial year.
Agriculture
The livestock sector grew by 3.0 percent while food production registered 7.5 percent compared to 6.5 percent in the previous financial year.
Industry
Industrial production improved at estimated growth of 7.5 percent as compared to 6.5 percent in the previous year.
Challenges to budget performance
Development challenges include inadequate physical infrastructure, limited supply to critical production inputs, inadequate skills base and social infrastructure, inappropriate mindset, attitude and culture, limited access to financial services and unemployment.
Budget highlights
UP
DOWN
CUTS ON PUBLIC EXPENDITURE
GENERAL
OTHERS
Priority sectors
According to the National Budget Framework Paper 2011/12 -2015/16, which is an official government document, education, health, roads and energy sectors will take just over half of the sh9trillion budget planned for 2011/12 financial year.
Education takes lion’s share
Education has the highest allocation of the budget at 15.5%, but the energy and mineral development sector enjoys a threefold jump in funds allocated to it compared to last year largely on the strength of sh828.6b earmarked for the construction of Karuma power dam.
Accountability sector budget doubles
The accountability sector, which encompasses the anti-corruption agencies, also has also seen a 50% jump in its budget – second only to energy.
Pubic administration budget slashed
Public administration will take the biggest budget cut, losing a quarter of its allocation from last year’s budget, a trend that has continued from the previous year’s budget.
Focus on service delivery
The general tone of the budget is in line with the NRM’s manifesto that promised better service delivery and infrastructural development.
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HIGHLIGHTS-Kenya 2011/12 budget
NAIROBI (Reuters) - Kenyan Finance Minister Uhuru Kenyatta presented his budget for the 2011/12 (July-June) fiscal year to parliament on Wednesday.
Below are highlights from the presentation:
On inflation
To keep inflation expectations under control, the central bank of Kenya will continue to monitor closely and adjust policies as appropriate.
We do not expect short term interest rate to rise drastically, but care will be taken to ensure credit to support economic productivity.
On economic growth
Looking forward, the economic prospect for 2011 remain strong but the impact of the of high fuel and commodity prices as well as delayed rains are indeed a source of concern.
The resilience we have demonstrated in the past will have to come in handy once again.
We expect real GDP growth of 5.3 percent in 2011, rising steadily to 6.1 percent to 2012, this translates to 5.7 percent for the financial year 2011/12.
On current account
On the external front, the strong domestic demand and high prices raised our import bill and as result weakened our external payment positions with the current account deficit reaching 8.5 percent of GPD (gross domestic product) in 2010.
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HIGHLIGHTS-Rwanda 2011/12 budget
KIGALI (Reuters) - Rwanda's Finance Minister John Rwangombwa presented his budget for the 2011/12 (July-June) fiscal year to parliament on Wednesday.
Below are highlights from the presentation:
ON ECONOMIC GROWTH
"We expect our real GDP to grow on average by about 7.2 percent per annum over the five year period covering 2011-2015. Specifically for 2011, we expect output growth to decline marginally to about 7 percent from the 7.5 percent achieved in 2010."
ON INFLATION
"If the current situation persists then we can see inflation rising to about 7.5 percent in 2011 from the 0.2 percent in 2010."
"Despite this sharp increase in inflation during the first quarter of this year, it still remains the lowest in the region."
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HIGHLIGHTS-Tanzania2011/12 budget
DODOMA (Reuters) - Tanzanian Finance Minister Mustafa Mkulo presented his budget for the 2011/12 (July-June) fiscal year to parliament on Wednesday.
Below are highlights from the presentation:
ON COST OF FUEL
"Measures to be taken include: Review the computation of charges on fuel imports with the aim of reducing them. The review is expected to be completed in the 2011/12 financial year," Mkulo said.
"The government is finalising procedure for bulk importation of oil, with the aim of distributing to oil companies on wholesale basis."
ON BUDGET SPENDING
Tanzania's overall spending will rise to 13.52 trillion shillings from 11.6 trillion shillings previously.
ON DOMESTIC REVENUE
Mkulo said domestic revenue was projected to rise to 6.77 trillion shillings from 6.0 trillion shillings in 2010/11
ON FOREIGN GRANTS, LOANS
Mkulo said they will factor in foreign grants and concessional loans of 3.92 trillion shillings from 3.27 trillion shillings previously.
ON DOMESTIC BORROWING
Mkulo said the government planned to borrow 1.2 trillion shillings from domestic financial markets.
ON INFRASTRUCTUTE SPENDING
Mkulo said in 2011/12 infrastructure will rise 85 percent to 2.78 trillion shillings.
Kiwanuka presents sh9 trillion budget
