Gov’t to continue borrowing beyond set international standards- Bahati

By Prossy Kisakye

The government says it will continue to borrow more money beyond the set international threshold of 50% in the bid to increase investment in infrastructure projects.

Currently, Uganda`s debt stock stands at Shs65.9 trillion and many stakeholders have expressed fear about this trajectory.

Speaking during a dialogue on the state of Uganda’s economy organized by the Advocates Coalition on Development and Environment in Kampala, the executive director of the Civil Society Budget Advocacy Group Julius Mukunda, advised the government to take into account the cost of debt servicing.

However, the state minister for finance in charge of planning David Bahati has argued that Uganda’s debt situation is not worrying and so the country can still borrow.

Written by Noelyn Nassuuna