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Shs9.2T released for Q2 FY 2023-2024

Shs9.2T released for Q2 FY 2023-2024

PSST Ramathan Ggoobi (courtesy photo)

The Ugandan government, led by the Ministry of Finance, has disbursed Shs9.2 trillion for the second quarter of the fiscal year 2023-2024.

This allocation encompasses various sectors and programs aimed at stimulating economic growth and development within the country.

Key Highlights:

  1. Allocation Breakdown: Secretary to the Treasury, Ramathan Ggoobi, revealed that out of the total allocation, Shs1.842 trillion (approximately 25.3%) will be directed towards wages, while Shs529.7 billion has been earmarked for the Parish Development Model. This initiative aims to provide Shs50 million to each parish by the mid-year point.
  2. Emyooga Program: A significant portion of Shs100 billion has been allocated to the Emyooga program, designed to empower local communities and promote entrepreneurship.
  3. Uganda Development Bank: Shs42.5 billion has been dedicated to capitalizing the Uganda Development Bank, fostering economic growth and financial stability.
  4. Security Institutions: A substantial sum of Shs434.01 billion has been allocated for the operation of security institutions, with the Ministry of Defence receiving Shs217.87 billion, police Shs78.121 billion, prisons Shs91.7 billion, and the intelligence agencies, ISO and ESO, set to obtain Shs46.313 billion.
  5. Statutory Votes: Shs420 billion has been released for statutory votes, including Shs212.708 billion for parliament, Shs97.057 billion for the Electoral Commission, and Shs60.28 billion for the judiciary.
  6. Pensions and Education: Notably, Shs289.558 billion has been set aside for pension and gratuity payments. Additionally, Shs221 billion will be allocated to education institutions, with the Ministry of Education and Sports receiving Shs84.3 billion. Public universities, Uganda Management Institute, Law Development Centre, UNEB, and the National Curriculum Development Centre will share the remaining funds.
  7. Support for Airlines and Sports: Uganda Airlines will receive Shs21 billion for its operational needs, while the National Council of Sports will be granted Shs15 billion to support various sports federations across the country.
  8. Timely Payments: Ramathan Ggoobi emphasized the importance of timely payments, urging all accounting officers to ensure that wages, salaries, pensions, and gratuities are disbursed by the 28th of every month. He also stressed the need for prompt payment to service providers to prevent arrears.
  9. Pre-payment of Utilities: Government institutions were advised to prioritize pre-payment of utilities such as water and electricity. Non-compliant entities could face service interruptions as a consequence.

This significant financial injection into various sectors demonstrates the government’s commitment to supporting economic growth, social development, and public service delivery. Stakeholders across these sectors will need to ensure efficient and accountable use of these funds to achieve the desired outcomes in Uganda’s fiscal landscape.

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