[11/06/2009]:: DELIVERING THE NATIONAL BUDGET 2009 / 2010

Delivering of the Budget at the 4th Session of the 8th Parliament of Uganda at Kampala Serena Conference Centre, Thursday 11th June 2009, by Hon. Syda Bbumba.

Theme: "Enhancing Strategic Interventions to improve Business Climate and Revitalise Production for Prosperity for All

I. PREAMBLE

1. I beg to move that Parliament resolves itself into a Committee of Supply for consideration and approval of:
   1. The Revised Revenue and Expenditure Estimates for the Financial Year 2008/2009; and
   2. Proposals for the Estimates of Revenue and Expenditure for Financial Year 2009/2010.
2. Mr. Speaker Sir, in accordance with Article 155(1) of the Constitution, the President is required to lay before Parliament, estimates of revenue and expenditure for the ensuing financial year. I am accordingly performing this duty, with pleasure, on behalf of His Excellency, the President, to whom I am grateful for giving me the opportunity to do so.

II. INTRODUCTION

3. Mr. Speaker Sir, the overall performance I am reporting today shows the robustness of our economy, and proof that NRM Government's policy and priority interventions have continued to be sound. Uganda's economy in the Financial Year 2008/09 registered a robust real growth of 7.0 percent, compared to the average sub-Saharan growth rate of 2.4 percent. This is a remarkable performance inspite of the global financial and economic crises that have adversely affected several economies both in the developed and developing world. The performance shows that Uganda's economy remains resilient, and confirms the benefits of sound economic management.
4. Mr. Speaker Sir, therefore the theme for this year's budget is ''Enhancing Strategic Interventions to Improve Business Climate and Revitalize Production to Achieve Prosperity for All''. Accordingly, Government will scale up investments in physical infrastructure including transport and communications, and will enhance access and availability of reliable and affordable energy. This will provide the private sector with enabling climate to increase production and seize opportunities in the domestic and regional markets.
5. Uganda has a comparative advantage in food production and has the potential of becoming the food basket of the region. It is also well placed as a trading hub. While demand for Ugandan exports might reduce among industrialized countries, this will be compensated for by high demand from the region. Government will address constraints to accessing regional markets and supply constraints in the domestic economy. Increasing production and promoting regional trade will therefore be our focus both in the short and long term.
6. Mr. Speaker Sir, the thrust of the Financial Year 2009/10 Budget is therefore based on the following policy initiatives:
   1. increasing agricultural productivity and production,
   2. increasing agro-processing and value addition,
   3. increasing investment in infrastructure and human resource development to facilitate regional trade and economic growth.
7. This is the essence of Government's stimulus that will lead to increased production, and stimulate regional trade while making the private sector more competitive to take advantage of regional demand. These measures will consequently result in the creation of jobs to address the high unemployment in the country.

XII. CONCLUDING REMARKS

127. Mr. Speaker Sir, I appeal to you Honourable Members for support in order to ensure that strategic interventions proposed in this budget improve the Business Climate, harness regional trade and Revitalize production for us to achieve prosperity for all Ugandans.

128. Mr. Speaker Sir, I wish to remind Ugandans that we celebrated Heroes Day two days ago, in which we remembered and recognized our heroes. Unfortunately, many more heroes perished in the course of the struggle to liberate this country and I am sure their wish was for the people of Uganda to live peaceful and prosperous lives. The benefits all of us enjoy today are a result of their noble sacrifice. Mr. Speaker Sir and Honourable Members, I dedicate this budget to the gallant martyrs of the Luwero Triangle who selflessly contributed to the struggle to liberate this country.

129. Mr. Speaker Sir, I beg to move.

FOR GOD AND MY COUNTRY