Africa-Press – Uganda. Government projects economic growth to recover to 5 per cent in the 2021/22 financial year.
The growth is expected to be attained through strategic interventions, which will mainly focus on increasing economic productivity.
The interventions, according to the 2021/22 National Budget Framework Paper, will mainly seek to increase household incomes and quality of life.
Dr Ajedra Gabriel Aridru, the Finance General Duties state minister, said in the Budget Framework Paper that the 2021/22 budget will seek to sustain economic recovery from the impact of Covid-19, while maintaining the momentum towards achieving Vision 2040.
The economy, he said, will be expanded through enhanced agricultural productivity and minerals, prudent macroeconomic management and enhanced local enterprise competitiveness supported through trade, physical and social economic infrastructure.
Government, he added, will also seek to improve health outcomes as well as build adequate and appropriate skill sets that match the labour demands.
“Efforts have been made to ensure that the limited resources are appropriately aligned to the most deserving priorities. Through this strategy we project economic growth to recover from a slowdown of 2.9 per cent in 2019/20 and 3 per cent projection from the current 2020/21 to 5 per cent in the 2021/22 financial year,” he wrote.
During the period, government will also seek to support initiatives that accelerate and sustain inclusive economic growth while maintaining economic stability and debt sustainability.
“The macroeconomic strategy therefore, is to enhance returns from public investment through implementation of policies that boost efficiency in public investment, increase domestic revenue mobilization efforts and maintain price stability,” reads the budget framework paper in part.
