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Government Releases 8 Trillion Shillings For First Quarter

Ministry of Finance has released 8 Trillion Shillings for the first quarter of the 2018/19 financial year.
The 8 Trillion shillings is a portion of the 32.7 trillion shillings which Parliament approved for this financial year.

The Secretary to the Treasury, Keith Muhakanizi, says that accounting officers in different governments departments, agencies, Ministries and districts should prioritise payment of pension, gratuity, salaries, rent, and arrears for utilities this quarter.

According to Muhakanizi, other arrears like salary, pension and gratuity arrears will be catered for in the next Quarter.
The biggest portion of the release for this quarter (2.2 trillion Shillings) will however go to debt payment.

Some of the allocations in this quarter include 92 Billion Shillings for NAADS, 403 Billion Shillings for UNRA, 312 Billion Shillings for the Ministry of Education, 149 Billion Shillings for Parliament, and 211 Billion Shillings for Uganda Police Force among others.
Economists now predict that the release of the first quarter funds will enable government agencies, Ministries and departments to pay their arrears and this will increase money in circulation.

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