The Budget documents are available on the internet at: . partners in the East Africa Region, such as Uganda, Tanzania and Rwanda. trading partners in the East Africa Region, such as Uganda, Mr. Speaker, as I have indicated above, economic prospects are promising. The overriding policy thrust of /11 Budget and the medium-term is, therefore. Over the last three years, CSOs in Uganda under the Civil. Society Budget MFPED . Budget Speech financial year / Enhancing Strategic National Budget Framework Paper FY /12 /16, Kampala. Uganda.


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The performance of the Agricultural sector has been uganda budget speech 2011 12 by cash and food crop production following favourable rains in the first planting season of the last year. The hotel and restaurant sub sector also rebounded, coupled with positive growth rates in transport and telecommunications, real estate activities and other business activities, as His Excellency the President highlighted in the State of Nation Address.

External Sector Developments Madam Speaker, the Uganda Shilling depreciated against major international currencies earlier in the financial year now ending. The Uganda Shilling has recently been more stable.

Depreciation of the shilling was a consequence of the widening balance of trade as imports continued to grow much faster than exports.

Budget Speech | Uganda Budget Information Library

We must therefore continue to concentrate on export growth in order to reduce the gap between imports and exports which has been widening over uganda budget speech 2011 12 past years.

This will entail increased production and exports of staple food to the region, and by shifting expenditures from imports to locally manufactured goods where this is feasible. Inflation and Interest Rates Madam Speaker, the economy has faced high inflation with prices rising over the early part of the financial year now ending.

However, inflation has receded.

Annual inflation peaked at Food crop inflation that was In order to achieve this, the Bank of Uganda had to pursue a tight monetary policy using uganda budget speech 2011 12 Central Bank Rate that led to a rise in interest rates.

The Central Bank Rate will be eased as conditions improve. Tight monetary policy has succeeded in bringing down the price level and has restored macroeconomic stability.


Supply side or fiscal policy and demand management or monetary policy policies are not alternatives; they complement each other and both are necessary for sound economic management.

Financial Sector Developments Madam Speaker, new technology is driving our efforts to improve financial inclusion, especially in the area of electronic money transfer and agency banking.

Uganda Budget Speech Financial Year Theme - Fortune of Africa | Investment in Africa

The necessary amendment to financial sector legislation to accommodate alternative banking approaches such as mobile banking, bank assurance, and Islamic Banking are being undertaken.

The Bank of Uganda has licensed four Mobile Money network operators to offer mobile money services, as a means of bringing about greater financial inclusion with the move towards branch-less banking.

By Februarythe operators had registered 2 million mobile money clients and In addition, Consumer Protection Guidelines were issued by the Bank of Uganda and are now part of the regulatory regime of all financial institutions.

This lending was towards financing post-harvest activity and the purchase of equipment using the Agricultural Credit Facility.

Government will continue to implement positive interventions to increase Agriculture lending through the banking system including the Uganda Development Bank.