By Our Reporter
NATIONAL
The Ministry of Finance and Economic Development has released money to Ministries, MDAs and Public Institutions for the third quarter of the Financial Year 2023/24. The total release is Shs4.974 trillion.
The announcement was made today, 29th January, 2024 by the Permanent Secretary/Secretary to the Treasury, Ramathan Ggoobi during a press briefing at the Ministry of Finance Headquarters.
Ggoobi reminded the country of commitment to fiscal consolidation which entails: boosting revenue collection, rationalising of Government expenditure and controlling Government borrowing.
Ggoobi revealed that the economy is recovering well from external & internal shocks saying the economy has expanded to Shs.184.89 trillion by end of June 2023, growing at a rate of 5.2% in real terms.
However, the cumulative revenue collections for the period July to December 2023 amounted to Shs.13.301 trillion against a target of Shs 14.169 trillion implying a revenue shortfall of Shs867.91 billion.
A total of 𝐒𝐡𝐬 𝟏𝟏𝟕.𝟓𝟔𝟕 𝐛𝐢𝐥𝐥𝐢𝐨𝐧 has been allocated to Education Institutions. This includes 𝐔𝐬𝐡𝐬 𝟐𝟖.𝟎𝟕𝟔 𝐛𝐢𝐥𝐥𝐢𝐨𝐧 for instructional materials, student loan schemes, and examination bodies under the Ministry of Education and Sports.
Public Universities, UMI, and LDC receive 𝐒𝐡𝐬 𝟖𝟒.𝟓𝟑𝟕 𝐛𝐢𝐥𝐥𝐢𝐨𝐧, while UBTEB receives 𝐒𝐡𝐬 𝟒.𝟓𝟗𝟒 𝐛𝐢𝐥𝐥𝐢𝐨𝐧 for exam supervision and management.
𝐔𝐬𝐡𝐬 𝟓𝟓𝟎.𝟖𝟓𝟗 billion has been released for operations of security institutions i.e., Ministry of Defence (𝐔𝐬𝐡𝐬 𝟒𝟎𝟑.𝟎𝟖𝟐 𝐛𝐢𝐥𝐥𝐢𝐨𝐧), Police (𝐔𝐬𝐡𝐬 𝟕𝟏.𝟑𝟕𝟒 𝐛𝐢𝐥𝐥𝐢𝐨𝐧), Prisons (Ushs 41.427 billion) ISO and ESO (Ushs 34.975 billion).
𝐒𝐡𝐬 𝟑𝟑𝟔.𝟑 𝐛𝐢𝐥𝐥𝐢𝐨𝐧 has been provided to kick start the process of ensuring renewal of National IDs project (𝐒𝐡𝐬 𝟏𝟗𝟐 𝐛𝐢𝐥𝐥𝐢𝐨𝐧) and for purchase of tablets that will be used in the National Population Census (𝐒𝐡𝐬 𝟏𝟒𝟒.𝟑 𝐛𝐢𝐥𝐥𝐢𝐨𝐧).
The initial batch of 15.8 million identity cards, printed and issued during the 2014/2015 period, is set to expire between August 2024 and June 2025. Consequently, this necessitates their renewal. While the mass renewal and registration process was initially slated for August 2023, it has been rescheduled.
𝐒𝐡𝐬 𝟗𝟎.𝟐𝟏𝟏 𝐛𝐢𝐥𝐥𝐢𝐨𝐧 has been provided to National Medical Stores to meet the obligations for purchase of essential drugs and medicines, 𝐒𝐡𝐬 𝟓𝟕.𝟗𝟓𝟓 𝐛𝐢𝐥𝐥𝐢𝐨𝐧 to referral hospitals, cancer and heart institute.
