According to the Public Finance Management Act of 2015, treatment Parliament should pass the annual budget by May 31.
This evening the front bench (Executive) led by the Deputy Attorney General and Finance Ministers; Matia Kasaija and David Bahati, sharply disagreed with the opposition members on what has been referred to as excessive domestic borrowing.
The Opposition Chief Whip, Winnie Kizza and trusted members including Ceicilia Ogwal, Nandala Mafabi and Muwanga Kivumbi were against the government’s attempt to borrow Shs 4.7tn which they said is above the legal threshold of 10 percent of the domestic revenue of government.
The domestic revenue is projected at 15.062tn and therefore the government can only borrow Shs 1.5062 trillion.
The Deputy Speaker, Jacob Oulanyah who chairing the house asked the two antagonistic parties to first move out and settle their scores and return to the house.