Finance Ministry official outlines rule capping annual oil revenue spending at launch of Uganda Economic Update, Kampala

Speaking at the launch of the 27th Uganda Economic Update in Kampala, Ministry of Finance Acting Director of Economic Affairs Moses Kaggwa said a fiscal rule limits oil revenue entering the budget to the equivalent of 0.8% of the previous year's budget, with the rest going to the oil revenue investment reserve. According to ChimpReports, he said the budgeted share would be reserved for infrastructure and development projects, and also set out projections for lower debt and deficits.