Uganda says it plans to slash external budget support by 84 per cent starting from the next financial year in July. The finance ministry announced late on Wednesday that funding—mainly in the form of loans and grants—is expected to drop sharply from more than 586 million dollars to just 92.7 million dollars. While no specific reason was given for the reduction, the government says it is prioritising strategies to boost domestic revenue mobilisation. Is this move fiscally realistic, or does it risk widening funding gaps in the short term? Here is economist, John Kakungulu Walugembe, weighing in on the matter...

<p>Uganda says it plans to slash external budget support by 84 per cent starting from the next financial year in July. The finance ministry announced late on Wednesday that funding&mdash;mainly in the form of loans and grants&mdash;is expected to drop sharply from more than 586 million dollars to just 92.7 million dollars. While no specific reason was given for the reduction, the government says it is prioritising strategies to boost domestic revenue mobilisation. Is this move fiscally realistic, or does it risk widening funding gaps in the short term? Here is economist, John Kakungulu Walugembe, weighing in on the matter...</p>

An English news and current affairs wrap with a fresh take on the day’s top stories, hosted by the seasoned journalist Tsepiso Makwetla.

<p>An English news and current affairs wrap with a fresh take on the day&rsquo;s top stories, hosted by the seasoned journalist Tsepiso Makwetla.</p>