Matia Kasaija, the Minister of Finance, has stated that additional budgets for various ministries will no longer be cleared, citing them as a “stone in the shoe.”
“Many times you will find that the budget has been enacted, but the next day someone will provide you with a supplementary budget. Some of these things are beyond me. Why don’t you make a proper budget and then come up with a supplementary budget for the Dubai Expo? These flaws must be addressed,” Kasaija stated.
On Thursday, the Finance Minister spoke at a function organized at the Kololo independence grounds during the budget conference.
Different ministries bringing in supplemental funds for government to pay their activities, according to Kasaija, confuses planning.
He stated categorically that extra budgets offered to him as Finance Minister will not be approved in the future.
“I’m defeated when someone asks for an extra budget for something he knows about. If I’m still finance minister and you bring a supplementary budget for something you already know about and wish to clear, you won’t receive my support,” Kasaija said.
“Supplementary budgets should only be used in the event of unforeseen and uncontrollable circumstances. You must carefully arrange your activities.”
The minister also stated that the Covid pandemic, which has wreaked havoc on the economy, will continue to influence next year’s budget.
“As a result, our budget plan is built in the context of COVID19-induced shocks, which necessitates innovation and novel approaches to attaining results,” he explained.
Despite the pandemic’s consequences, the minister stated that there is still space for economic growth through import substitution; digitization of the economy, which he claims would result in more jobs, foreign direct investments, and increased access to export markets.
The Finance Minister stated that the government will make many strategic interventions in the 2022/23 budget, including the restoration of economic activity through better access to financing, industrialization, improved productive infrastructure, and oil and gas commercialization, among others.