GOVT TO PAY LOCAL DEBTS BY AUGUST END

GOVT TO PAY LOCAL DEBTS BY AUGUST END

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Government has promised to pay all outstanding domestic debts by the end of August 2016 as a measure to relieve the distressed local businesses.

In a letter dispatched from the Prime Minister’s office and confirmed by the Private Sector Foundation Uganda, Executive Director Gideon Badagawa, all government agencies have been tasked to act accordingly so that local businesses can be supported to improve their cash flows and alongside enhancing competitiveness.

Government has committed over 25% of the total 2016/2017 national budget to servicing debt.

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