The Ministry of Finance, Planning, and Economic Development has disbursed sh9.195 trillion for the second quarter of the financial year 2023/24 to various government ministries, departments, and agencies. This announcement was made by Ramathan Ggoobi, the Permanent Secretary of the Finance Ministry, during a press conference held at the ministry’s headquarters on Friday.
In the allocation breakdown, sh1.842 trillion, which accounts for 25.3% of the wage budget, has been designated for Q2 expenses. Non-wage recurrent expenditures include sh529.7 billion allocated for the Parish Development Model (PDM) and sh434.01 billion for the operations of security institutions. Statutory expenses, which include funding for Parliament and the Electoral Commission, receive sh420 billion.
Furthermore, sh289 billion has been allocated for pension and gratuity payments during the second quarter, while sh221 billion has been directed towards education institutions, including the Ministry of Education and Sports. An allocation of sh240.303 billion has been made for the National Medical Stores.
In addition to this, sh158.043 billion has been provided to the Uganda Bureau of Statistics (UBOS), and sh57.274 billion to the Uganda National Roads Authority (UNRA).
Ggoobi stated, “We are also allocating sh57.274 billion to agriculture institutions, sh21 billion for operational purposes, and sh15 billion to support sports federations under the National Council of Sports.”
Ggoobi, who also serves as the Secretary to the Treasury, revealed that the Ugandan economy is projected to grow by 6% in the financial year 2023/24. He noted, “Both aggregate demand and production have continued to recover, and the economy is on an upward trajectory.” He also highlighted that the inflation rate for September was recorded at 2.7%, down from 10.7% in October of the previous year.