The agriculture sector has been given a Shs40 billion boost, with the figure rising from Shs823.4 billion in the 2016/17 financial year, the Shs863.4 billion in FY 2017/18.
Despite being the backbone of the economy, the agriculture sector was placed in seventh position for budgetary funds’ disbursing, trailing the roads sector which will take Shs4.6 trillion of the Shs29 trillion budget.
The finance and planning minister Matia Kasaija, who read the budget under the theme: ‘Industrialization for Job Creation and Shared Prosperity’, at the Serena Conference Centre, said increasing agricultural production and productivity will initiate Uganda’s graduation to middle income status by 2020.
“The agricultural sector is key in providing food and export earnings plus creating gainful job opportunities for youth’’ Kasaijja said urging the government to mitigate the destruction of wetlands and deforestation as well as encouraging re-afforestation.
Further, Kasaija noted that Uganda’s agricultural potential can help eliminate the trade deficit that currently stands at US$2.8 billion.