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Thursday, August 18, 2022

Cecilia Ogwal: Museveni Government is mortgaging the future of our grandchildren

Dokolo District Woman MP Cecilia Ogwal has accused President Yoweri Kaguta Tibuhaburwa Museveni’s government of mortgaging the future of Uganda’s grandchildren.

Standing at just over Shs55tn, above the estimate 2021/22 financial year budget, Uganda’s public debt has already crossed the 50 per cent mark when compared to the GDP.

Yet government continues to borrow to finance public expenditure and huge infrastructure projects.

Corruption and inflated projects costs also hew a considerable amount of money off the loans and national revenue.

To seasoned politician Ogwal, the Museveni administration could be mortgaging the future of Uganda’s grandchildren.

“We are sustaining our debt on the heads of your grandchildren,” she told NTV.

“The government is mortgaging their future.”

To clear the Shs55tn public debt, each of the 44 million Ugandans would need to pay Shs1.25m.

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