The National Budget Conference FY 2024/2025
Full monetization of Uganda's economy by commercial agriculture, industrialization, expanding and broadening services, digital transformation & market access.
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Set up by #Legacy
Conference covered by #laneproduction
'EFRIS is not a tax, it's a system, like a camera, to watch what you do as a tax payer. The problem is that taxpayers want to evade taxes, if you are doing the right thing, why don't you want the camera to capture what you are doing??' Ramathan Ggoobi (PSST)
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The export volumes of major food crops have shown growth during the initial 7 months, concluding in January 2024, when contrasted with the corresponding period from the previous year.
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HAPPENING NOW: National Budget Conference for FY 2024/2025.
kampalaserenahotel Under the theme 'Full Monetization of Uganda's economy through Commercial Agriculture, Industrialization, Expanding and Broadening Services, Digital Transformation and Market Access'
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A summary of our Economic Growth for Financial Year 2023/24 to date;
The economy is growing steadily at 6.0%, driven by agriculture & industry with increasing exports and strong business confidence. Our economy is set to reach Shs204.9 trillion.
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Updates on the External Sector for FY 2023/24 to date;
Tourism, foreign investment and remittances are strong, increasing by 29.5%, 21.3%, and 13.7% respectively in the first quarter of FY 2023/24 compared to the same period in FY 2022/2023.
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A summary of our Economic Growth for Financial Year 2023/24 to date;
The economy is growing steadily at 6.0%, driven by agriculture & industry with increasing exports and strong business confidence. Our economy is set to reach Shs204.9 trillion.
#KnowYourBudget24
Shilling denominated credit lending rates decreased from 18.9% in October 2023 to 16.79% in November 2023, partly due to declining inflation, while foreign currency denominated credit lending rates slightly increased.
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Mukunda Julius, Executive Director of the Civil Society Budget Advocacy Group (CSBAG), praised the government during the #KnowYourBudget24 fourth-quarter press briefing. He commended the government's efforts to reduce inflation citing a marginal decline in headline inflation to
PSST Ramathan Ggoobi on the Electronic Fiscal Receipting and Invoicing Solution (EFRIS);
EFRIS is not a tax, EFRIS is a system used to collect tax.
Because Ugandans are not used to paying tax, they don’t want a system which makes sure you can’t afford to evade.
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Mukunda Julius, Executive Director of the Civil Society Budget Advocacy Group (CSBAG), commended the government at the #KnowYourBudget24 4th quarter press brief. He appreciated the government's strategies to lower inflation, citing a marginal decline in.....
Shs 88 billion for Local Government Development has been released for Road Maintenance and equates to Shs 500 million per Local Government.
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Some foreigners are doing retail and he assured that they will be worked upon with evidence. The foreigners who have been vending things through Ugandans shall be caught
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This will bring the total GoU release for FY 2023/24 to Shs 28.564 trillion (113.1% of the approved Budget and 98.4% of the approved Budget).
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“In industry, there is continued recovery in manufacturing and construction activities as inflation continues to stabilize and remain below the central bank target” ~ Ramathan Ggoobi Permanent Secretary and Secretary to Treasury
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Shs 364.807 billion to be allocated to Uganda National Roads Authority (UNRA) for road construction, says Ramathan Ggoobi, Uganda’s Secretary to the Treasury.
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Updates on the External Sector for FY 2023/24 to date;
Tourism, foreign investment and remittances are strong, increasing by 29.5%, 21.3%, and 13.7% respectively in the first quarter of FY 2023/24 compared to the same period in FY 2022/2023.
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Shs 90.211 billion to National Medical Stores for purchase of essential drugs and medicines. This ensures 100% of releases to NMS i.e Shs 560.967 billion;
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The traders had issues about EFRIS, he continues to remind that it’s not a tax. Some people don’t want a system that can monitor those that want to evade the tax. It is a system that looks at the supply and demand side of an economy system of a transaction
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“I urge you to make use of our website budget.finance.go.ug where we post more detailed information. You may also call our Budget Call Centre on 0800 229 229 for any information on the Budget.” PSST
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