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The Forum for Democratic Change (FDC} has raised concerns about the Budget Process which was recently passed by Parliament, citing transparency and accountability issues.
The party says it is concerned with the Shs72.136 trillion Budget for the 2024/2025 financial year, citing allocation of a significant portion of resources to non-priority areas.
“As FDC, we feel pity for Ugandans with these high taxes imposed on them,” Robert Centenary, the MP for Kasese Municipality, said.
He challenged fellow legislators to always participate in the Budget Process with a view to ensure it benefits and is responsive to the needs of the average Ugandan.
The government is no longer borrowing from international development partners after surpassing the debt ceiling.
It has instead resorted to borrowing from local commercial banks where domestic debt will shoot to Shs2.7 trillion.
Unfortunately, domestic borrowing also raises the interest rates, thus affecting the private sector.