The recently released parliamentary committee report on the national economy and the state of indebtedness, grants, and guarantees indicates that Uganda’s public debt stock has increased by 22%.
The money Uganda owes to different creditors shot up to USh69.513 trillion ($19.54 billion) by the end of the financial year 2020/21, from USh56.938 trillion in FY 2019/20.
From the report, preliminary statistics received by the committee indicated that by the end of June 2022, the total public debt stood at USh78.799 trillion ($20.98 billion). Of this debt stock, USh48.136 trillion ($12.8l4 billion) is external while USh30.662 trillion ($8.162 billion) is domestic debt.
By June 2022, Uganda’s debt to Gross Domestic Product ratio stood at 48.6%, a few percentage points from the agreed East Africa ceiling of 50%.
Committed but undisbursed debt increased by 11% from $5.3 billion in financial year 20l9/20 to $5.9 billion in the financial year 2020/21.