Kadaga shocked by country’s debt

By Moses Kyeyune.

The Speaker of Parliament Rebecca Kadaga has expressed fear over the rising debt burden.

The Speaker has been addressing the auditor general on the findings of the June 2018 report, where the country’s public debt was reported to have increased by 22 percent from shs 33.99 trillion as at 30th June 2017 to shs 41.51 trillion as at 30th June 2018.

The auditor general further noted that more than a half of the loans sampled totaling to shs 3.98 trillion will expire in 2020 and that, if government is to service the loans as projected in the next two financial years (2018/2019 and 2019/2020), it would require more than 65 per cent of the total revenue collections, a figure that is “over and above the historical sustainability levels of 40 per cent.”

The Speaker, says that quick solutions need to be found.