The Grind – Kamara Hosts Mr. Julius Mukunda ED. CSBAG
Uganda’s public debt continues to rise and has now surpassed UGX 130 trillion, with debt servicing projected to consume at least UGX 33.4 trillion in the 2026/2027 financial year.
This figure represents roughly 40% of the national budget, meaning a significant share of government expenditure will go toward repaying borrowed funds. Civil society organizations and financial experts have repeatedly advised the government to reduce borrowing in order to ease the burden on taxpayers, who ultimately bear the cost through taxes used to service these loans.
To manage the growing debt, the government has outlined several strategies, including increasing domestic revenue mobilization, relying on expected oil revenues, prioritizing concessional loans, and growing the industrial sector to ensure long-term debt sustainability, among other initiatives.
Julius Mukunda, Executive Director of the Civil Society Budget Advocacy Group (CSBAG), speaks to The Grind with Patrick Kamara about the impact of Uganda’s rising public debt, its implications for the economy, and the measures government can take to reduce borrowing.
The Grind – Kamara Hosts Mr. Julius Mukunda ED. CSBAG
Uganda’s public debt continues to rise and has now surpassed UGX 130 trillion, with debt servicing projected to consume at least UGX 33.4 trillion in the 2026/2027 financial year.
This figure represents roughly 40% of the national budget, meaning a significant share of government expenditure will go toward repaying borrowed funds. Civil society organizations and financial experts have repeatedly advised the government to reduce borrowing in order to ease the burden on taxpayers, who ultimately bear the cost through taxes used to service these loans.
To manage the growing debt, the government has outlined several strategies, including increasing domestic revenue mobilization, relying on expected oil revenues, prioritizing concessional loans, and growing the industrial sector to ensure long-term debt sustainability, among other initiatives.
Julius Mukunda, Executive Director of the Civil Society Budget Advocacy Group (CSBAG), speaks to The Grind with Patrick Kamara about the impact of Uganda’s rising public debt, its implications for the economy, and the measures government can take to reduce borrowing.