By Samuel Ssebuliba
Despite admitting that the economy is in distress, government has boasted of maintaining the debt to GDP ratio below East Africa’s threshold of 50%.
Currently Uganda’s external debt is estimated at about Shs17 trillion, while the domestic debt stood at Shs.11.6 trillion by end of June 2016.
Now according to the state minister of finance in charge of planning David Bahati, Uganda’s debt status is at 38.6% which is far below the 50% regional threshold.
He says with the completion of several long term infrastructure projects like the Standard Gauge Railway whose cost is about Shs45 trillion, the debt burden is expected to reduce even further.
