By Our Reporter
Parliament has approved the national budget of over Shs 14 trillion for the 2013/2014 financial year.
The National Budget provides estimates for revenue and expenditure for different government ministries, departments and bodies for the new financial year.
The figure approved covers both Recurrent and Development expenditure for the financial year, which commenced in July 2013. Before that, Parliament had approved the Vote on Account to enable government to withdraw funds from the Consolidated Fund to meet the government’s expenses before approving the budget. Vote-on-Account is computed based on budget provisions for the first four months of the financial year – a third of the non-statutory annual budget, which is eligible for appropriation by Parliament.
Parliament also passed the Appropriation Bill, 2013, the object of which is to provide for the appropriation out of the Consolidated Fund provided for under the Public Finance and Accountability Act, 2003.
The Speaker of Parliament, Rt. Hon. Rebecca Kadaga, said there was need to improve on the speed at which Ministerial Policy Statements are forwarded to Parliament and are processed in the committees.
“In that case, the (budget) will be ready earlier than (September); I hope this happens in the next financial year,” she said.
The total figure for the current financial year is Shs 14,032,675,311,000.