国产精品99一区二区三_免费中文日韩_国产在线精品一区二区_日本成人手机在线

Uganda says public debt sustainable in medium, long term

Source: Xinhua| 2019-01-08 22:59:35|Editor: Mu Xuequan
Video PlayerClose

KAMPALA, Jan. 8 (Xinhua) -- Uganda's finance minister on Tuesday said the country's public debt is sustainable in the medium and long term, noting that there is no cause for worry.

Matia Kasaija told reporters here that the country's debt is at 41.5 percent of the Gross Domestic Product (GDP), which is below the threshold of 50 percent above which a country faces debt distress.

He said the money borrowed externally is used to invest in projects that will grow the country's economy.

Kasaija said infrastructure investments have led to sustained economic growth rates. For instance, in financial year 2017/18, Uganda achieved a 6.1 percent growth rate which was up from about 4 percent recorded the previous year.

"The expansion of the economy leads to increased capacity to collect more revenue which improves the country's ability to service its debt," Kasaija said.

Kasaija said precautionary measures are being taken by the finance ministry to prevent the hitting of debt ceiling from happening.

"If we find we are likely to hit the mark, we shall hold back. We are not going to lead the country into a debt distress," he said.

Kasaija's comments followed increased public debate about the country's local and external borrowing.

According to the finance ministry, multilateral creditors, like the World Bank and African Development Bank, have provided the largest part of government's financing.

Multilateral creditors accounted for 68 percent of total outstanding debt while bilateral creditors accounted for 31 percent and commercial banks accounted for 1 percent of the external debt stock in last financial year.

Economic experts warns that Uganda's public debt is likely to go up especially when the commercial production of oil starts.

TOP STORIES
EDITOR’S CHOICE
MOST VIEWED
EXPLORE XINHUANET
010020070750000000000000011105091377291811
主站蜘蛛池模板: 龙岩市| 奉节县| 广河县| 武冈市| 无棣县| 托克逊县| 肥城市| 通化市| 甘谷县| 河西区| 香河县| 赞皇县| 漳州市| 镇雄县| 缙云县| 柳州市| 察哈| 玉山县| 青铜峡市| 皮山县| 迁西县| 康保县| 锡林浩特市| 泰州市| 常熟市| 丹棱县| 固安县| 九江市| 安远县| 固原市| 荆门市| 谷城县| 翼城县| 东阳市| 新晃| 汝南县| 徐州市| 东乡| 祁连县| 谢通门县| 金塔县|