By Leonard Kamugisha AKIDA,
NATIONAL
The president of Uganda Young Democrats Ismail Kirya has said that Uganda is like a patient in coma due to accumulating debts.
“Few days ago we have seen government asking to borrow money from potential Private sector lenders in the world in order to close the 2022/2023 Budget gap.” Kirya said
Recently, finance minister Matia Kasaija wrote to Parliament seeking urgent permission to authorise the ministry to borrow up to sh1.7 trillion from standard Chartered Bank and other Commercial banks to finance part of the development and infrastructure budget for this financial year.
This has made the public to rise eye brows after another report indicated that Uganda’s public debt has increased to 80 trillions.
Uganda last week launched launched a satelight in the space which will be taking almost a trillion in every financial year. According to Kirya, government extravagance is sickening the economy of the country.
“This country is in coma and is now left with small heart beat to die.” Kirya told journalists on Tuesday at DP offices, city House Kampala.
“We are therefore expecting the president of the Republic of Uganda if he is there to resign the day he will pretend to be speaking to this nation again,” he added
He further asked the president to cut on the classified budget allocated to state house to meet the financial gaps.
“The country has lost control and we are now driving on flat tires. We thought you could cut on your State House Budget and finance the budget.”
The UYD leader cautioned that the Mafias are going to take advantage of the economic crisis to start lending government and secure bigger contracts attached with strings; ”Now government is nolonger in charge.”
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