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KIU Business Desk: President set to Deliver Annual National Budget Speech Today


By Rogers Wanambwa 

KIU, Main Campus - President Yoweri Kaguta Museveni is set to deliver the annual Budget speech for the Financial Year 2020/21 today, Thursday, June 11, 2020.

As has become the new norm, the president will address Parliament from State House according to the Clerk to Parliament, Jane Kibirige. 

"You will recall that Parliament was adjourned to Thursday, 11th June 2020 at 2 pm when the Budget Speech for the Financial Year 2020/21 will be presented. The venue for the occasion will be South Wing Car Parking Yard, Parliament Building," said the Clerk to Parliament. 

The National budget for the Financial Year 2020/21 is 45.5 trillion shillings and it was approved by Parliament on April 24, 2020.

On the 45.5 trillion budget, Uganda Revenue Authority is expected to collect 21.7 trillion to finance it while the balance is to be borrowed and other assistance funds from countries and agencies. 

In the approved budget, Ministry of Works received the biggest share, 5.8 trillion while the least allocations include ICT, with 162 billion, Ministry of Tourism, with 198 billion, and the Ministry of Trade which was allocated 171 billion. 

Other allocations include 2.8 trillion to the Ministry of Health and 3.6 trillion the Ministry of Education. 

The theme for this year's budget remains "Industrialization for Job Creation and Shared Prosperity," and according to the Ministry of Finance, Planning and Economic Development, the Budget Strategy for Financial Year 2020/21 is anchored on the Third National Development Plan (NDPIII). 

Picture credit: PML Daily