Minister of State for General Duties Hon. Henry Musasizi presenting the National Budget Framework Paper for FY 2024/25 to 2028/29.

Minister of State for General Duties Hon. Henry Musasizi accompanied by the PSST Mr. Ramathan Ggoobi and his technical team appeared before Parliament Committee on Budget to present the National Budget Framework Paper for FY 2024/25 to 2028/29.

 Total funding for FY 2024/25 is projected at Ushs. 52.72 trillion.

The Minister also presented to the Committee the  National Budget Framework Paper for FY 2024/25 - 2028/29  Certificate of Gender and Equity Compliance as well as the Certificate of Climate Change Responsiveness. Hon.Henry musasizi in his statement to the Committee highlighted the state of the economy and the growth prospects. He said Uganda's economy grew to Ushs.184.89 trillion in FY 2022/23 from Ushs.162.750 trillion in FY 2021/22.

He also reiterated that annual headline inflation which slowed down to 2.6% as at December 2023,is expected to remain within the policy target of 5% over the medium term.

He said the total debt stock as at the end of June 2023 stood at Ushs. 86.8 trillion, noting that the ratio of debt to GDP stands at 46.9% & remains sustainable in the short and medium term.

The economy is projected to grow by 6% by end of FY 2023/24 & 6.5% in FY 2024/25. The economy is also expected to grow by at least 7% in the medium term.