Uganda’s debt stock worrying

By Samuel Ssebuliba.

Government has been asked to expedite all pending projects that are financed by borrowed funds to increase the country’s ability to pay its outstanding debts.

According the report of parliament’s committee on national economy on the performance of the economy, Uganda’s public debt stock increased by 15% between the financial year 2015-16 and 2016-2017 from 29.7 trillion to 34.4 trillion, putting the country at risk.

The committee vice chairperson Lawrence Bategeka says to avoid this worrying trend, all projects must be completed as early as possible to enable them add value to the national economy.

He also advises against borrowing for consumption.