Uganda debt exceeding limit - AG warns govt
Friday March 12 2021
Summary
Projection
“As government continues to support economic recovery through the provision of economic stimulus package to various sectors, debt is projected to increase further over the near term. I advised the PS/ST [Secretary to the Treasury] to devise a comprehensive strategy to align revenue mobilisation and fiscal policy management, as well as reducing/rationalising government expenditures,” Auditor General, John Muwanga
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The Auditor General (AG), Mr John Muwanga, has warned that Uganda’s national debt has escalated and threaten to overshoot the limit.
The AG cautioned that if government does not restrain its hunger for loans, the debt will be unsustainable and future governments will not be able to borrow.