Uganda’s public debt has reached a staggering Shs126.16 trillion, sparking concerns about the country’s ability to pay back its creditors. The debt, which has been growing steadily over the years, has raised questions about the government’s fiscal management and its impact on the economy. According to experts, the debt is unsustainable and poses a significant risk to the country’s financial stability. The government has assured the public that it has a plan to manage the debt, but critics argue that the plan is not credible. They point out that the government’s revenue collection efforts are inadequate, and that the country’s economy is not growing fast enough to generate sufficient revenue to service the debt. The debt burden is also expected to have a negative impact on the country’s credit rating, making it more expensive for Uganda to borrow money in the future. As the debt continues to grow, there are concerns that it could lead to a financial crisis, with severe consequences for the economy and the general population. The government needs to take urgent action to address the debt crisis, including implementing austerity measures and increasing revenue collection.
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