The latest annual report by the auditor general has revealed that Uganda’s public debt has risen to Shs86.6 trillion which is beyond the debt ceiling as required by the International Monetary Fund.
Presenting the report to parliament, the Auditor General, John Muwanga observed that Shs38.1 trillion out of the total debt stock as of June 30, 2022 was domestic debt while Shs48.5 trillion was external debt.
This he says is an increase of Shs11.5 trillion which is about 12.5% when compared to the debt stock of Shs75.1 trillion registered as of June 30, 2021.
Muwanga has noted that public debt has increased by 109% in five years from 2017/2018 from Shs 41 trillion to Shs86.6 trillion as of last year.
He has urged government to prudently project and manage the funding mix as well as review its priorities to avoid escalation of debt beyond a sustainable level.