World Bank aid cut: Policy makers tipped on multiplying revenue
Policy makers have been urged to focus on the private sector to multiply revenue and cut dependency syndrome.
This follows World Bank’s move to suspend new funding to Uganda over the Anti-Homosexuality Act, 2023.
According to Ms Anne Juuko, the chief executive officer of Stanbic Bank, government’s fiscal partnerships with the private sector will create new domestic funding streams through commercial entities and multilateral funding via value addition.
She says engaging the private will extend Uganda’s markets and increase the tax base to finance her own budget and protect the economy from effects of World Bank’s decision.
She made the remarks during the release of Stanbic Bank’s half-year financial results for 2023 in Kampala.
