Govt overshoots October spending by Shs684b
Uganda, Nov. 18 -- The Ministry of Finance has said government overshot its expenditure by Shs684.13b in October.
The Shs684.13b expenditure resulted in an overall fiscal deficit of Shs2.3 trillion, which was higher than the planned deficit of Shs1.702 trillion, owing to a combination of revenue shortfalls and higher than planned expenditure during the month.
A fiscal deficit occurs when government spends more than raised money.
Ministry of Finance said expenditure and net lending in October amounted to Shs4.3 trillion, which was 15.4 percent higher than the Shs3.7 trillion planned for the month.
The performance was mainly driven by non-wage recurrent and domestic development expenditures during the month.
Expenditure on recurrent it...
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