Cap External Borrowing, Parliament’s Committee on National Economy advises government
Following the approval of the draft budget, government will go ahead to incorporate recommendations by parliament and present the final budget in March 2023
Parliament’s Committee on National Economy proposed in a report to cap the minimum amount for external borrowing to under US$20 million to minimise costs related to contracting loans and maximising the benefits.
The report was presented by the committee vice chairperson, Robert Migadde, during a plenary sitting held on Tuesday, 23 August 2022.
“The committee further recommends that gover
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