Uganda’s economy expanded at 5.1perecent this financial year compared to 3.4 perecent in the previous year.
By Vision Reporter
Uganda’s economy expanded at 5.1perecent this financial year compared to 3.4 perecent in the previous year, Finance minister, Maria Kiwanuka has said.
Presenting the national budget for 2013/14 financial at Kampala Serena Hotel Victoria Hall, the minister reported that inflation had also reduced compared to the previous year.
The theme for 2013/14 financial year’s budget is “The journey continues: Towards Socio-Economic transformation for Uganda.”
The minister said the government’s fiscal strategy and expenditure priorities for 2013/14 fiscal year is to reflect the initial steps towards achieving the Vision 2040.
The medium term economic outlook for Uganda is positive, with growth expected to return to 6 -7 percent per annum over the next five years, the minister said.
She said that the government registered progress in the implementation of the budget with a number of roads constructed; in energy sector, Bujagali hydro power project added more megawatts to the national grid.
The budget priorities include; human resource development, infrastructure development, creation of job opportunities, increasing agriculture productivity and ensuring food security among others.
Government will enhance value for money and accountability for allocated resources.
President Yoweri Museveni later addressed the nation and parliament on the budget.
HERE IS WHAT HE SAID.
Economy expands at 5.1 percent