By AGGREY BULUBA
Kampala — Veteran opposition leader Dr. Kizza Besigye has raised concerns over Uganda’s financial strategies, particularly the issue of borrowing to fund government expenses, including salaries. Besigye’s critique came after State Minister for Finance, Hon. Henry Musasizi, publicly denied claims that the government would borrow to meet salary obligations for the fiscal year 2024/25.
In a social media post, Dr. Besigye questioned the government’s financial calculations, suggesting that Uganda’s budget projections could lead to further debt. “The government says it won’t borrow to pay salaries, but the budget shows otherwise,” he wrote. Besigye highlighted that while the government aims to raise around UGX 32 trillion in taxes, the debt repayment and interest alone require approximately UGX 34.6 trillion. “Even before considering other expenses, the math indicates they’ll still have to borrow.”
Challenging the government’s transparency, Besigye asked, “Can the Minister or any other NRM leader tell us where they’ll find the funds to cover all budget expenses, including salaries?” He argued that such borrowing practices are unsustainable, calling Uganda “the only government in the world that borrows its own ‘earnings’.”
Minister Musasizi defended the budget, stating that Uganda’s economy is steadily growing, with inflation at a manageable 3% and a 6.6% economic expansion from April to June 2024. He assured Ugandans that the government has adequately planned to meet all obligations without relying solely on loans.
As the debate over Uganda’s financial management intensifies, Besigye’s critique brings to light a question familiar to many Ugandans: will the government finally disclose its true funding sources, or will the public remain in the dark? Only time will tell whether Musasizi’s assurances will stand, or if, as the proverb goes, “you can’t hide an elephant in a mouse hole.”
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