The minister of finance, Matia Kasaijja has said that the country’s economy is currently limping and he will be sharing strategies that have been put in place to stabilise it.
Kasaijja made the statements while appearing before the Parliamentary Committee of Finance.
The finance minister who not so long ago gestured that the economy was flying, said there are a lot of interventions being made to ensure the economy stabilises.
“It (Economy) is not dead. The economy is limping, I will come here and tell you what interventions we are making, I have no problem with that,” he told the committee.
Members of the committee expressed concerns specifically on inflation and the lack of funds in the treasury, citing that the economy could crash anytime soon.
They also cited issues like the delayed payment of salaries to government workers.
It should be noted that the government last month announced budget cuts to the first quarter of the 2022/23 fiscal year by at least 6 per cent citing economic difficulties.
The decision was also made in the light of increasing prices of essential commodities and inflation. According to the Ministry of Finance, a reduction in the government budget would reduce money in circulation and protect the common people.
SOURCE: NILE POST