Minister of Finance, Planning and Economic Development , Matia Kasaija, has refuted claims that Uganda’s Public Debt is getting epidemic and that the country could lose most of its assets to its debtors soon. The Auditor General, in his report on Uganda’s public debt that was presented to Parliament on 4th January, indicated that the […]
Minister of Finance, Planning and Economic Development , Matia Kasaija, has refuted claims that Uganda’s Public Debt is getting epidemic and that the country could lose most of its assets to its debtors soon.
The Auditor General, in his report on Uganda’s public debt that was presented to Parliament on 4th January, indicated that the public debt has increased by 22 percent from 33.99 trillion Shillings as of June 30, 2017, to 41.51 trillion Shillings as of June 30, 2018. External debt accounted for 67.2 percent (USD 7.2 billion) and domestic debt 32.8% (USD 3.5 billion).
The report further indicated that most of the government’s debt was unplanned and unconstitutional.
However, Kasaija, while addressing the matter today at Uganda media centre, said Uganda’s Public debt is ‘sustainable.
According to Kasaija ,Uganda’s debt to GDP ratio, now standing at 41.5 percent, will not surpass the 50 percent risky threshold recommended by the World Bank and International Monetary Fund.
