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Ugandan finance minister says “can't borrow indefinitely to mortgage” the country

Matia Kasaija said the government cannot borrow indefinitely to finance endless financial requests, many of which may be deferred or even cancelled, the local media reported.

“Almost every Monday when Cabinet sits there are always new demands for supplementary budget. Now, I have learnt to politely keep quiet. Even when the President says ‘Kasaija, find money for this’ […] I say ‘yes’, but I don’t do anything because there is no money and I will not borrow indefinitely,” he said, as cited by the media, making clear that the issue of supplementary requests must be stopped.

Kasaija was reportedly responding to concerns that the increasing public debt threatens the economy, which continues to have low tax receipts and, at the same time, a surge in financing needs, many of which fall within priority areas but cannot be addressed.