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: 莒南县| 东兰县| 乐陵市| 清镇市| 绥阳县| 玛多县| 平山县| 宝鸡市| 扬州市| 治多县| 延吉市| 陇西县| 垦利县| 吉木萨尔县| 台中市| 白玉县| 松桃| 胶州市| 永善县| 读书| 神池县| 信阳市| 蕲春县| 会东县| 红安县| 济宁市| 巫溪县| 樟树市| 镇平县| 雅江县| 崇阳县| 进贤县| 鹰潭市| 东乌珠穆沁旗| 寿光市| 敖汉旗| 江孜县| 米易县| 彭水| 恩施市| 南川市|