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2002/2003 Budget Presented

The Finance Minister, Hon.Gerald Ssendaula, presented the budget proposals for the Fiscal Year 2002/2003 to Parliament on June 13, 2002. The total revenue for 2002/2003 is estimated at Shs. 1,433 billion, while total government expenditure, excluding
donor projects will amount to sh2,038b.

The theme of the budget was "Increased Production for Increased Exports and the Eradication of Absolute Poverty."

Hon. Gerald Ssendaula, Minister of Finance, Planning and Economic Development.

Highlights

GDP growth rate estimated at 5.9%.

 

Spending on the strategic ExportsProgramme to increase to about Sh.40 bn next FY from 32bn this financial year.

Taxes on computers and accessoriesscrapped.

NSSF monopoly to be removed.t Duty on petrol increased by Ushs.30 per litre (from Shs. 580 to Shs. 610).

Excise duty on ‘mivumba’ (secondhand clothes and shoes) increased by 5%.

Excise duty on imported sugarincreased from 10% to 20%.

Expenditure on Primary Health Carehas been increased by 30%.

Tax on imported vehicles increasedby 5%.

Excise duty on beer reduced from70% to 60%.

Second-hand vehicles to undergopreshipment inspection.

Only VAT registered companies toget governmental contracts.

Visa fees (pupils/student passes) on Kenyan and Tanzanian students
studying in Uganda scrapped.

20% excise tax on polythene bagsand plastic containers.

15% levy on raw hides and skins.

The full text for the Budget Speech can be accessed on the Ministry of Finance
Website:www.finance.go.ug

 

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