National Debt: Uganda walks a tight rope as debt soars | Panorama

Uganda's economic outlook is gloomy on account of its rising public debt. At least 30% of the country's revenues are committed to servicing debt obligations in keeping with a trend attributed to Uganda's growing deficit. As the country continues to spend more than it earns, debt repayments account for the lion's share of budget expenditure in the 2023/24 financial year. This is bound to take valuable resources from key sectors. This spells trouble for the country's credit rating, as lenders particularly those abroad are pessimistic. The risk of debt distress is likely to increase in light of slow export growth and the rising cost of government, which this year's budget attempted to reign in. #NTVNews #NTVTonight #NTVWeekendEdition

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