Minister advises Ugandans to pay more tax to reduce on 45Trillion debt

Mr David Bahati, the Minister of State for Planning, said the #MobileMOneyTax is aimed at lowering Uganda’s foreign debt burden and to cover the debt, government wants to capture majority of the unbanked population in the informal sector.

Meanwhile... members of Parliament on the Public Accounts Committee have expressed fears that the high rate at which the government is borrowing.

According to the documents presented by the director for debt management, Stella Wanyera, Uganda’s public has increased from $10.5b (sh38.8trillion) as of December 2016 to $11.1b (sh41trillion) as of December 2017, which is 38.4% of the country’s GDP.

Kachumbala County MP Patrick Isiagi Opolot cited countries like Zambia and Ghana which have failed to pay back money borrowed from China and now the Asian country threatening to take over their national assets to recover their money.

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