Uganda, Nov. 25 -- Government has launched a fiscal policy to regulate public debt for five financial years (2021/2022-2025/2025).

During the launch of the fiscal plan in Kampala yesterday, the State minister for Planning, Mr Amos Lugoloobi, said it seeks to, among others, ensure that total public debt in nominal terms is reduced to below 50 percent of the National Gross Domestic Product (GDP) by Financial Year 2025/2026.

"Covid-19 constrained tax revenues leading to an increase in nominal public debt from 35 percent of GDP in Financial Year 2018/2019 to an estimated 49.9 percent by the end of Financial Year 2020/2021. This ratio is projected to slightly go above the 50 percent policy up to 53 percent in Financial Year 2022/2023," Mr Lu...