Govt to revise national budget after loan ban
Government is considering a review of the national budget following World Bank’s move to halt funding to Uganda due to the Anti-Homosexuality law.
Speaking to legislators on Thursday, the State Minister for Finance, Henry Musasizi revealed that government intends to revise the national budget, adding that emoluments of public servants could be affected.
“We took the firm decision and we agreed that we shall face the consequences. We shall be coming soon, I want to prepare your minds that very soon we are going to revise the budget downwards & we shall be coming to you for support. Even the emoluments are going to be affected given the preliminary we are seeing,” Musasizi told MPs on Thursday.
Mr. Amos Kankunda, the chairperson of the Finance Committee says Parliament does not regret their decision to pass the Anti-Homosexuality Act. He says government will advise Ugandans on how to survive amid the World Bank ban.
While reacting to the loan ban, Bugiri Municipality MP, Asuman Basalirwa, the mover of the Anti-Homosexuality law said there’s need to rethink the country’s spending habits.
“We are a God-fearing country, God who created us will make us survive, it isn’t World Bank that created us… Let us look for new friends. We also need to rethink the extravagance that is exhibited in public offices,” Basalirwa said.
Meanwhile, President Museveni has assured Ugandans that the country will develop with or without loans.
In a statement issued on Tuesday, the Bank said Uganda’s Anti-Homosexuality law contradicts its values.
“Uganda’s Anti-Homosexuality Act fundamentally contradicts the World Bank Group’s values,” the development lender said in a statement Tuesday, adding that “no new public financing,” would be presented to the bank’s board of directors for approval for the time being.
Latest news
