By Martha Nakimuli
Uganda’s economy has slightly fallen but more growth is expected in the next financial year .
During the reading of Uganda’s national budget 2012-2013 today at Serena Kampala Hotel ,Finance Minister Maria Kiwanuka said that Growth in the services sector slowed to 3.1%, with trade, financial, education and health services sector registering negative annual growth rates.
The growth in industrial production slowed to 1.1% during the year. The hardest hit industrial sub-sector was formal manufacturing sub sector, where growth reduced by 4.4%. Agricultural sector has performed much better, recording annual growth of 3.0%.
During the reading of Uganda’s national budget 2012-2013 today at Serena Kampala Hotel ,Finance Minister Maria Kiwanuka said that the numerous factors that have contributed the the slow economic growth have been dealt with and more growth is expected soon.
75% of the Ugandan budget 2012-2013 will be financed by local sources while 25% of the budget will be financed by development partners of the country.
The teachers cry for salary increment has been answered,teachers will receive salary increment in this financial year.
Mulago hospital is going to be renovated while Kabale, Hoima and Fort Portal Regional Referral Hospitals are also going to be renovated.
There is an increase in the excise duty on spirits made from locally made raw materials from 45% to 60%.
The theme for 2012/13 budget: “Priorities for Renewed Economic Growth and Development”.