Financial Year 2020/21 Ugandan National Budget

THE REPUBLIC OF UGANDA
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Budget Speech
Financial Year 2020/21
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Theme: Stimulating the Economy to safeguard
Livelihoods, Jobs, Businesses and Industrial Recovery
Delivered By
HON. MATIA KASAIJA
MINISTER OF FINANCE PLANNING AND ECONOMIC DEVELOPMENT
11th June 2020

A. PREAMBLE
Your Excellency the President
Your Excellency, the Vice President
The Right Honourable Speaker of Parliament
The Right Honourable Deputy Speaker
His Lordship the Chief Justice
His Lordship the Deputy Chief Justice
The Right Honourable Prime Minister and Leader of Government Business
Right Honourable Deputy Prime Ministers
Madam Leader of the Opposition
Honorable Ministers and Members of Parliament
Members of the Diplomatic Corps
Distinguished Guests, Ladies and Gentlemen.
1. In accordance with Article 155(1) of the Constitution and Section
13(13) of the Public Finance Management Act 2015, the Revenue and
Expenditure estimates for the Financial Year 2020/21 were approved by
Parliament on 24th April 2020. This statement, therefore, summarizes the
economic policy underlying the Budget estimates. It is with pleasure, that
I deliver this speech on behalf of H.E. the President.
B. INTRODUCTION
2. Madam Speaker, today, we face unprecedented times. The
global Corona Virus pandemic has, without exception, impacted lives
and economic activity across the world. The pandemic has worsened
the effects of climate change and the locust invasion that Uganda and
the region had already been grappling with. Uganda has been
reasonably successful in dealing with these emergencies. Allow me to
commend His Excellency the President for his visionary leadership in the
fight against these natural disasters and emergencies.
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3. Madam Speaker, these emergencies have adversely impacted
the economy. The livelihoods of many Ugandans have been negatively
affected with declining household incomes, and in some cases the loss
of jobs and food insecurity. Economic activity has drastically declined,
with reduced demand for agricultural produce, the disruption of input
supplies to manufacturers, as well as a disruption of Micro, Small and
Medium Enterprises (MSMEs) activities. Inflows of Foreign Direct
Investment and remittances of Ugandans in the diaspora have also