External borrowing encouraging lazy investors
By Ritah Kemigisa
The Coordinator East African Budget Network and Uganda Debt Network Julius Kapwepwe has warned that external borrowing is increasing on the number of lazy investors in the country.
His comment comes at a time the government is set to borrow over shs 7 trillion externally to finance the shs 48.1 trillion budget for the forthcoming financial year 2022/2023.
According to Kapwepwe, many investors are earning good contracts from the government and yet make no investments as they enjoy tax incentives.
He is now encouraging legislators to scrutinize the extent of what debt resources have delivered.
Kapwepwe meanwhile says much as some contracts have been mismanaged, there is a need to take note of the successful projects like the Karuma dam.
Latest news
