DURING THE HOLY WEEK OF 2023, THERE IS NEED FOR SERIOUS PRAYERS FOR OUR CHILDREN AND GRANDCHILDREN WHO WE ARE GOING TO LEAVE IN DEBT THAT WILL MAKE LIFE IMPOSSIBLE FOR THEM.

For far too long, Uganda Government’s  overzealous appetite to borrow has been uncontrollably evident, often times triggering fear of driving the country into a looming debt trap.

Over the years, a number of policy experts, economic analysts and a section of civil society organisations have made their position clear, saying the Government’s appetite for borrowing, will land the country into a slippery ground - a situation many analysts believe the country’s economic managers now seem to find themselves in.

Public debt hits Shs86 trillion

With the country’s public debt standing at Shs86.6 trillion as of June 2022, according to the Auditor General’s report for the financial year 2021/2022.

This state of affairs is very painful in that this debt will be mainly paid by those where there may not be much to show as benefits accruing from have contracted it.

However, those in charge of Government affairs may be forced to make a decision to sell off some of the assets / estates of those who were incharge as these monies were being sanctioned.