Shadow Finance Minister Ibrahim Ssemujju Nganda has sounded the alarm over Uganda’s rising public debt, warning that reckless government spending is deepening the country’s financial crisis.
Presenting the minority report to Parliament, Ssemujju, who also represents Kira Municipality, revealed that Uganda’s debt had surged from Shs 97.5 trillion in June 2023 to Shs 109.8 trillion by June 2024. He further warned that the government plans to borrow an additional Shs 24 trillion to fund the upcoming Shs 57.44 trillion budget for the 2024/25 financial year.
Ssemujju strongly criticized the budget allocations, highlighting extravagant expenditures despite the growing debt. He pointed out that the 2024/25 budget includes:
- Shs 298.5 billion for special meals
- Shs 132.2 billion for bedsheets and shoes for top government officials
- Shs 237 billion for workshops and meetings
“Our country has been mortgaged. What’s even more alarming is that the government intends to fund next year’s Shs 57 trillion budget by borrowing Shs 24 trillion since it only expects to collect Shs 33 trillion,” Ssemujju warned.
He also condemned the government’s failure to clear domestic arrears, which have risen to Shs 14 trillion from Shs 10.8 trillion in the previous financial year. Despite this, only Shs 200 billion has been allocated for arrears, leaving a significant gap, including Shs 250 billion in unpaid gratuities and pensions.
Ssemujju’s concerns add to growing calls for fiscal discipline as Uganda grapples with an escalating debt burden and questionable spending priorities.
