Parliament has this afternoon passed the budget for 2020/21 which is estimated at Shs45.5 trillion.
The new budget is 12.6 percent higher than that of the current year running and will have most of its expenditure tended in an election environment.
The resource envelope passed by parliament is to be financed by Shs21.7t from domestic revenues while budget support is Shs2.9t.
Another Shs3.5t will come from domestic financing (domestic borrowing and Bank of Uganda recapitalization), while Shs9.6t will come from project support (external financing), Shs 7.4t from domestic refinancing and Shs215.6b from local revenue for Local Governments.
On the expenditure side, External Debt Repayment is projected to take up to Shs1.2t, while Domestic Refinancing Shs7.5t and Shs40b will be directed to Domestic Arrears.
Finance Minister Matia Kasaija has hailed parliament for standing tall to process the budget amidst trying times.
The minister says that should the situation change, Parliament should be able to accommodate him to make changes in the budget.