All accounting officers have been asked to undertake fiscal consolidation measures to support further economic recovery within the limited resources available at their disposal.
Meeting accounting officers for central government institutions yesterday, finance ministry permanent secretary, who is also Secretary to the Treasury, Ramathan Ggoobi, said with limited resources, the accounting officers should limit external borrowing to only critical projects, improve revenue collection and expenditure.
Accordingly, he said during the execution of the 2023/24 budget, accounting officers should concentrate on funding only key priorities to increase momentum in socio-economic transformation.
The money, according to Ggoobi, should also be spent on security, health, including medical supplies under National Medical Stores, education and the provision of clean and safe water for human consumption and for production.
This is in addition to supporting private sector development by maintaining financing to Uganda Development Bank, Microfinance Support Centre, Agriculture Credit Facility, Small Business Recovery Fund; supporting enterprise groups as well as small and medium-sized enterprises, among others.
He reemphasized the need to hold back any recruitment till the ongoing payroll audit is completed.
