The vice chairperson of the parliamentary committee on National Economy, Robert Migadde says the total public debt has increased over recent years due to the implementation of the government's investment agenda and the effects of the Covid-19 pandemic that caused revenue shortfalls.
Uganda's public debt stock increased by 22% from Shs 56.938 trillion in the financial year 2019/20 to Shs 69.513 trillion by end of the financial year 2020/21.
Migadde explained that public debt is projected to increase over the medium term as the government continues to implement its investment programme to boost economic recovery.