Experts wave another red flag over Uganda’s skyrocketing debt

By Damali Mukhaye

Experts have warned the government against the skyrocketing public debt that stood at over Shs 69 trillion as at June 2021.

According to the Acting Assistant Auditor General, Edward Akol, the domestic debt now stands at Shs25 trillion, while external debt stands at Shs44 trillion.

This shows an increase in the country’s debt by over Shs13 trillion from Shs 60trillion recorded in 2020 to nearly Shs 70trillion.

Akol says 15% of revenue collected is going into paying debt interest.

Akol was speaking during the handover of the 2020/2021 audit report to the deputy speaker of parliament earlier today.

Written by Noelyn Nassuuna