Government Allocates 9.195 Trillion Shillings for Q2 2023/24 Expenditure
Ramathan Ggoobi, the permanent secretary of the finance ministry, revealed the allocation of sh9.195 trillion for the second quarter of the financial year 2023/24 during a press conference at the ministry headquarters on Friday.
The Ministry of Finance, Planning, and Economic Development, on Friday, released sh9.195 trillion for the second quarter of the financial year 2023/24 to various ministries, departments, and agencies. This allocation covers both wage and non-wage expenditures.
In this release, sh1.842 trillion, equivalent to 25.3% of the wage budget, has been allocated for the second quarter. For non-wage recurrent expenses, sh529.7 billion has been designated for the Parish Development Model (PDM).
Furthermore, sh434.01 billion has been released to fund the operations of security institutions, while sh420 billion is allocated for statutory purposes, which includes Parliament and the Electoral Commission.
In addition to these allocations, sh289 billion has been earmarked for pension and gratuity payments in the second quarter, and sh221 billion will go to education institutions, including the Ministry of Education and Sports. The National Medical Stores will receive sh240.303 billion in this allocation.
The Ministry of Finance has also allocated sh158.043 billion to the Uganda Bureau of Statistics (UBOS) and sh57.274 billion to the Uganda National Roads Authority (UNRA).
Ramathan Ggoobi, who also serves as the secretary to the treasury, announced that the Ugandan economy is projected to grow by 6% in the financial year 2023/24. He highlighted the continued recovery of both aggregate demand and production, indicating that the economy is on an upward trajectory. Ggoobi also reported a decrease in the September inflation rate, which dropped to 2.7% from 10.7% in October of the previous year.
