We share insights of Uganda's FY 17/18 National Budget in the PwC Budget analysis bulletin. This analyses the performance of Uganda's economy in the FY16/17, economic outlook for FY17/18 and beyond.
The total budget value is UGX 29.0 trillion which is 10.0% up on FY16/17. Domestic revenue will fund 67.5% of the total outgoings, up from 62.1% budgeted in the prior year. The planned deficit is UGX 5,606 billion (5.6% of projected GDP), which will be funded by increased domestic borrowing of UGX 954 billion along with external lending.
Budget support grants continue to dwindle (to UGX 35 billion), while project grants have more than doubled to UGX 1,601 billion. The Petroleum Fund will be drawn upon to the extent of UGX 125 billion to develop roads serving the Lake Albert oil fields.