The Uganda public debt is expected to shoot to 7.6 billion dollars in the financial year 2015/2016 from the shillings 7.2 billion in 2014-2015
While presenting this year’s budget yesterday at Serena Hotel, the Finance minister Matia Kasaija said that the increase in public debt is driven high government borrowing rate from abroad mainly to facilitate infrastructural growth.
He explained that 60% of this debt will be got from external sources, while 40% will be sourced internally.
He however explained that much as this looks to be an increased the current Uganda economy has the capacity to service these debts.
This year 6 trillion have been budgeted to service public debts.