Gov’t to grow revenue to GDP ratio

By Ssebuliba Samuel.

Government is planning next financial year to start implementing the new comprehensive Domestic Revenue Mobilization Strategy, which aims to raise the revenue to GDP ratio from 14.2% to at least 16% in the next 5 years.

This comes the time when government is grappling with growing debt stock which is now standing at 41 trillion equivalent to 41% of Uganda GDP.

According to the minister for Finance Matia Kasaijja, this increase in domestic revenue will provide Government with the additional resources for financing development projects and service its debt obligations annually.

He said that this development agenda will be guided by high National priorities with expected high economic return as identified in National Development Plan.