The Ministry of Finance, Planning and Economic Development has unveiled its plans for the 2024/25 fiscal year, and it’s all about tightening the belt – a move that is sure to have government officials and bureaucrats shaking in their boots.
The preliminary resource envelope for the upcoming year, initially set at sh52.723 trillion, has been revised upwards to an even more eye-watering sh53.336 trillion.
The man behind the curtain, the Permanent Secretary and Secretary to the Treasury, Dr. Ramadan Ggoobi, has made it abundantly clear that the days of frivolous spending are over. With the national debt ballooning and servicing costs spiraling out of control, it’s time to rein it in. Fiscal consolidation is the name of the game, and everyone’s going to feel the pinch.
So, what exactly does this mean for the average Ugandan? Well, for starters, say goodbye to that shiny new government-issue SUV you had your eye on. According to Dr. Ggoobi, vehicle purchases will be restricted to essential services only. Sorry, fat cats, but unless you’re driving an ambulance or distributing medical supplies, you’ll have to make do with public transport.
And there is more. If you were planning on jet-setting around the globe on the taxpayer’s dime, you might want to rethink your travel plans. Travel abroad is also on the chopping block, much to the chagrin of our dear President Yoweri Museveni. It seems he’s had enough of MPs gallivanting around foreign shores while critical government programmes go unfunded. Maybe they can take a page out of Museveni’s book and spend more time at home in beautiful Kigumba.
Dr. Ggoobi has outlined a few key principles to ensure that the essentials are taken care of. Priority will be given to critical government programmes such as the Parish Development Model, peace and security, and human capital development.
And just in case you were worried about the bottom line, rest assured that the Ministry of Finance has it all figured out. With a keen eye on debt sustainability and a commitment to reducing debt service costs, they’re pulling out all the stops to balance the boat.
