Performance of Uganda Economy Report June 2012

PERFORMANCE OF THE ECONOMY
JUNE 2012
MINISTRY OF FINANCE, PLANNING AND ECONOMIC

DEVELOPMENT
www.finance.go.ug
TABLE OF CONTENTS
LIST OF ACRONYMS3
EXECUTIVE SUMMARY.4
I
REAL SECTOR.4
1. Real GDP..5
2. Inflation....5
II
MONETARY SECTOR.9
1. Foreign Exchange Market.. 10
2. Securities ..11
III. EXTERNAL SECTOR11

1. External Debt Service ..................................................................................................................................... 11
2. Coffee Exports11
2.1. Direction of Coffee trade .12
IV FISCAL SECTOR.12
1. Overview .............................................................................................................................................................. 12
2. Performance of the Resource Envelope ................................................................................................. 13
3. Tax Revenues ..................................................................................................................................................... 14
3.1 Direct Domestic Taxes (DDT) ........................................................................................................... 15
3.2 Indirect Domestic Taxes (IDT).......................................................................................................... 15
3.3 Taxes on International Trade (TIT) ................................................................................................ 16
3.4 Fees and Licenses ................................................................................................................................... 16
4. Non Tax Revenue (NTR) ............................................................................................................................. 16
5. External Financing........................................................................................................................................... 17
5.1 Budget Support .......................................................................................................................................... 17
5.2 Project Support .......................................................................................................................................... 17
6. Overall Expenditures ...................................................................................................................................... 17
V
APPENDICES.20
Macro Economic Policy Department, Performance of the Economy Report, June 2012
Page 2
LIST OF ACRONYMS
ADF
African Development Fund
AGDP
Annual Gross Domestic Product
DDT
Direct Domestic Taxes
EFU
Electricity, Fuel and Utilities
EIB
European Investment Bank
EU
European Union
HIPC
Heavily Indebted Poor Countries
IDA
International Development Agency
IDB
International Development Bank
IDT
Indirect Domestic Taxes
IFAD
International Fund for Agricultural Development
MDG
Millennium Development Goals
NUDEP Northern Uganda Development Enhancement program

NTR
Non Tax Revenues
OPM
Office of the Prime Minister
PAF
Poverty Action Fund
PRDP
Peace Recovery and Development Programme
QGDP
Quarterly Gross Domestic Product
TIT
Taxes on International Trade
UK
United Kingdom
Page 3
EXECUTIVE SUMMARY
Annual inflation continued to decline for the seventh consecutive month. The rate of
annual headline inflation fell to 18.0% during the month from 18.6% in May, as both
core and EFU inflation declined. On the other hand, food crop inflation rose from 8%
in May to 12.2% in June 2012.
Total URA revenue collections in June 2012 amounted to Shs 752.79bn,
representing a performance rate of 116% against the target for the month.
Cumulative collections for the fiscal year amounted to Shs 6,135.94bn representing a
performance rate of 99.5% against the target for the period. Collections on stamp
duty from farm out oil transactions in 2011/12 amounted to Shs.72.3 bn.
During the month, non-tax-revenue (NTR) collections amounted to Shs 11.8 billion,
representing performance rate of 125% against the months target. Cumulatively,
NTR collections amounted to Shs 105.8 billion against a target of Shs 106.3 billion
estimated for the FY 2011/12.
Total Government expenditure excluding arrears amounted to Shs. 924.7 billion in
June. The fiscal operations recorded a deficit of Shs. 126.7 billion as revenues and
grants underperformed.
Coffee exports in June decreased to 275,057 60-kg bags, worth US$ 36.62 million,
representing a decline by 25.85% and 37.1% in volume and value respectively, as
compared to June 2011.
In the foreign exchange market, the Shilling depreciated by 0.2% in June to an
average of Shs 2,484.36 against the US dollar for the month.
In the money markets, interest rates on Government securities decreased across all
maturities as Shilling liquidity conditions eased in June relative to May.
Page 4
ECONOMIC INDICATORS FOR JUNE 2012

I
REAL SECTOR
Inflation
The annual headline inflation reduced to 18% in June 2012 down from the 18.6% recorded
in the May 2012. The reduction in headline inflation was on account of reductions in EFU
and core inflation. Core inflation reduced to 19.2% but continued to drive overall inflation in
the country. Meanwhile EFU and food crop inflation increased at 12.9% and 11.0%
respectively. Annual food crop inflation increased to 11.0% compared to 8% in May but still
remained lower than core and EFU inflation during the month of June 2012.
Food versus Non Food Inflation

Both food and non-food inflation reduced in June 2012. Food inflation reduced to 12.7%
from 13.7% recorded in May 2012 and was still lower than headline inflation. Meanwhile
non-food inflation reduced to 20.4% from 21% reported for May. Non food inflation
remained higher than headline inflation implying that the inflationary pressures have
persistently resulted from the non-food component of inflation since March 2012.
Fig 1: Movements in the Food and Non food Components of Inflation for June 2011 2012:
Movements in Food,Nonfood
and Headline Inflation
60.0
Contribution to Headline Inflation

30.00
25.00
50.0
20.00
40.0
15.00
30.0
10.00
20.0
5.00
10.0
0.00
0.0
food
non food
headline
food non food
Source: Uganda Bureau of Statistics

Page 5
Inflation across CPI centres

June Annual headline inflation remained highest in Arua just as in May 2012. Arua recorded
headline inflation of 24.1% compared to 21.3% in May 2012 followed by Kampala high and
Gulu at 20.45 and 19.4% respectively. Headline inflation remained lowest in Jinja and
Mbarara at 13.5% and 15.5% respectively. Arua continues to experience the highest inflation
in the country due its location-bordering South Sudan. The demand for the limited goods and
services in Arua is exercabated by the fact that South Sudan competes with Arua for the same
goods produced within Arua and those imported
Figure 2 illustrates inflation across the centres in the country where prices are collected
monthly.
Fig 2: Inflation across CPI Centres June 2012:
Figure 3 illustrates the pattern of annual inflation rate between June 2011 to June 2012,
while table 1 shows annual and monthly changes in the consumer price index for the same
period.
Page 6
Fig 3: Annual Inflation, June2011 June2012
Table 1: Monthly and Annual Inflation: June 2011 June 2012
June' 11 July' 11 Aug'11 Sep'11 Oct'11 Nov'11 Dec'11

Annual Changes
Headline 15.7% 18.8% 21.4% 28.3% 30.5% 29.0% 27.0%
Core
12.1% 15.6% 20.0% 27.6% 30.8% 30.6% 29.2%
Food Crops 39.0% 42.3% 33.7% 38.8% 35.3% 25.9% 20.4%
EFU
10.3% 10.8% 10.7% 12.1% 10.1% 11.3% 11.6%
Monthly Changes
Headline 0.1% 2.3% 2.7% 6.9% 1.3% 0.1% -0.2%
Core
1.9% 3.4% 3.8% 6.8% 1.1% 0.5% 0.6%
Food Crops -7.8% -2.6% -2.5% 8.7% 2.4% -1.4% -4.4%
EFU
1.1% 1.5% 0.4% 1.6% 0.3% 0.0% 0.1%
Jan'12 Feb'12 Mar'12 Apr'12 May'12 June' 12

25.6%
28.1%
13.5%
23.5%
25.7%
26.7%
21.4%
23.1%
21.1%
23.6%
10.1%
20.2%
20.0%
22.8%
9.1%
14.3%
18.6%
21.2%
8.0%
14.5%
18.0%
19.5%
11.2%
12.9%
0.1%
0.0%
-3.0%
11.8%
1.8%
0.9%
7.4%
1.0%
0.4%
-0.8%
6.5%
-0.5%
2.0%
1.2%
7.6%
-3.7%
-0.1%
0.2%
-1.5%
0.6%
-0.5%
0.5%
-5.1%
-0.3%
Monthly Inflation
Monthly headline inflation in June fell to -0.5% compared to a drop of -0.1% recorded in May
2012. The reduction in monthly headline inflation was on account of fall in food crop prices
(-5.1%) and EFU (-0.3%).
Page 7
Monthly headline inflation reduced across all centres apart from Arua (3.2%) and Jinja
(2.8%) that experienced highest food crop price increments of 11.9% and 5.4% respectively.
Fig 4: Monthly Inflation Rate June 2011 to June2012
Headline
Core
Food Crops
EFU
15%
10%
5%
0%
-5%
-10%
Inflation in East African Community June 2012

Annual headline inflation eased across the East African Community in June compared to May
2012. Ugandan headline inflation (18.0%) was the highest for the first time in the fourth
quarter of FY 2011/12. Inflation was lowest in Rwanda, at 5.92%. Kenya, Tanzania and
Burundi all continued to register double digit inflation levels during the month.
Page 8
Fig 5: Inflation Rates in the East African Region
June
20.0
18.0
16.0
14.0
12.0
10.0
18.0
8.0
17.4
17.3
6.0
10.1
4.0
5.92
2.0
0.0
Uganda
Tanzania
Kenya
Rwanda
Burundi
Source: Compiled by Ministry of Finance, Planning and economic Development.
II
MONETARY AND FINANCIAL SECTOR
Government Securities and Interest Rates

There were five auctions of government securities - 2 T-Bills, 2 T-bond and a T-bond reopening during the month of June 2012 and on net basis Shs 280.78 billion worth of
securities were issued. In line with market developments, the average monthly interest rate
on the shortest dated security the 91-day TB rose marginally to 18.6% in June, while the
rate on the 364-day TB dropped substantially by 1% to 19.23%. The weighted average
monthly interest rate across all TB maturities also dropped substantially by 1% to 19.24%
between May2012 and June 2012. The interest rates on the 3, 5 and 10-year bonds (whose
face values were Shs 100, 50 and 100 billion respectively) were at 15.2%, 15.4% and 15.3%
respectively. Figure 6 shows the trends in average TB interest between June 2011 and June
2012.
Page 9
Figure 6: Average TB Interest Rates, June 2011 - June 2012

26.0
24.0
22.0
20.0
18.0
16.0
14.0
12.0
Jun-11 Jul-11 Aug-11 Sep-11 Oct-11 Nov-11 Dec-11 Jan-12 Feb-12 Mar-12 Apr-12 May-12 Jun-12
91
182
364
W Av
Source: Bank of Uganda
Since the start of this calendar year, interest rates on Government securities have
experienced a steady decline. The decline partly reflects the easing in monetary policy
stance (as reflected by the decline in the CBR) in response to easing inflationary pressures.
Foreign Exchange Market

The foreign exchange market was characterised by subdued demand. In the absence of
corporate sector demand, developments in the market were driven by inter-bank activities.
Having opened the month at Shs 2,502/US$, the Shilling fluctuated but the rate remained
fairly stable in the first two weeks, as demand was met by available supply from exports,
NGO and private flows. However, the second half of the month was characterised by gradual
appreciation pressures with the exchange rate ending the month at Shs 2,472/US$. On a
monthly average basis, there was marginal depreciation of the exchange rate from Shs
2,479/US$ in May to Shs 2,484/US$ in June 2012.
Page 10
Figure 7 shows developments in the monthly average inter-bank mid rate between June
2011 and June 2012.
Figure 7: Monthly Average Inter-Bank mid Rates, June 2011 June 12
Source: Bank of Uganda
On an annual basis, the average exchange rate amounted to Shs 2,557/US$, representing a
9.1% depreciation over the FY2010/11 average level.
II.
EXTERNAL SECTOR
Coffee Exports
Coffee exports were hit by the weak international demand in June 2012, as both volume and
values were below the corresponding levels last year. Exports totalled 275,057 60-kg bags
worth US$ 36.6 million, which was a decline by 25.8% and 36.8% in volume and value
respectively, as compared to June 2011.
In addition to reduced demand, export volumes were significantly affected by reduced
harvests on account of heavy rains in the South and South Western regions that hampered
the drying of the coffee beans.
Cumulative coffee exports still fell short of last years production. Total coffee production in
2011/12 amounted to 2.01 million 60-kg bags worth US$ 293.6 million compared to 2.12
Page 11
million 60-kg bags worth US$ 300.6 million in 2010/11. The weaker global growth and
expected bumper harvest from Brazil explains the slowdown in the coffee exports.
Figure 8: Coffee Export Volumes and Unit Values, June 2011 - June 2012
Source: Uganda Coffee Development Authority
External Debt
During the month, a total US$ 3.343 million was paid out in debt service against the months
projection of US$ 3.258, which was attributed to higher than projected interest payments to
IDA and the AfDB.
The highest amount of debt service both in percentage and total was paid to IDA and
accounted for 65% or US$ 2.2 million. This was followed by IFAD and Austria which were
paid US$ 0.8 million and US $ 0.15million respectively as indicated in the figure below.
Page 12
IV
FISCAL SECTOR
Overview
Fiscal operations expanded faster than programmed in the month of June. Notwithstanding
the good performance recorded on both domestic revenues and foreign grants, a provisional
deficit of Shs 2.2bn was recorded compared to a projected surplus of UGX 21.8 billion. This
was largely on account of foreign project loan disbursements which translated into external
development spending of Shs 229bn above the programmed level. In contrast to the last two
financial years, there was no repeat of the end-June escalation of recurrent and domestic
development spending partly due to the tighter fiscal stance taken in the second half of the
financial year in support of the disinflation effort.
Table 2: Overall Fiscal Operations (Billions, Shs), June 2012
Revenues and Grants
Revenues
URA
Non-URA
Oil revenues
Grants
Outturn
Prog
Prov
Jun '11
Jun '12
Jun '12
Impulse
Dev
Perf
655.6
708.5
919.0
40%
210.5
130%
590.7
660.7
764.6
29%
103.9
116%
575.7
646.4
752.8
31%
106.3
116%
15.0
14.3
11.8
-21%
(2.5)
83%
n.a
n.a
65.0
47.8
154.4
138%
106.7
323%
Budget Support
18.8
14.1
85.9
356%
71.8
608%
Project Support
46.1
33.6
68.5
48%
34.8
204%
Expenditure and Lending
702.3
686.6
921.3
31%
234.7
134%
Expenditure excl arrears
704.4
689.9
924.7
31%
234.8
134%
Current Expenditures
436.6
422.8
382.4
-12%
(40.3)
Wages and Salaries
146.7
169.4
160.7
10%
(8.7)
41.6
36.9
55.9
35%
19.0
151%
36.8
30.9
50.0
36%
19.1
162%
4.8
6.0
5.9
23%
(0.1)
241.5
216.4
165.8
-31%
(50.7)
267.7
267.1
542.3
103%
275.2
203%
Domestic Development
150.3
184.4
195.4
30%
11.0
106%
External Development
117.4
82.7
346.9
195%
264.1
419%
Interest Payments
Domestic
External
Other Recurr. Expenditures
Development Expenditures
Net Lending/Repayments
Domestic Arrears Repaym.
Domestic Balance
Primary Balance
(3.0)
0.9
10.6
(5.1)
Overall Fiscal Bal. (excl. Grants)
(111.6)
Overall Fiscal Bal. (incl. Grants)
(46.6)
46.6
33.6
52.9
Financing:
External Financing (Net)
Disbursement
o/w Budget Support disbts
o/wProject Support disbts
Armotization (net)
(3.2)
(3.4)
n.a
(0.2)
0.0
-99%
0.0
62.9
58.8
(25.9)
196.1
1747%
53.6
-1162%
90%
95%
98%
77%
105%
n.a
133.2
312%
(5.2)
91%
(156.7)
40%
(130.8)
605%
21.8
(2.3)
-95%
(24.2)
-11%
(21.8)
2.3
-95%
24.2
-11%
39.1
268.6
701%
229.5
687%
49.1
278.4
427%
229.3
567%
52.9
49.1
0.0
278.4
(19.3)
(10.0)
(9.8)
Other Financing (Net)/1
13.1
(61.0)
(266.3)
o/w Bank Financing
95.7
(70.3)
n.a
427%
-49%
-2140%
na
0.0
n.a
229.3
567%
0.2
98%
(205.3)
na
437%
na
/1 includes errrors and omissions
Source: Ministry of Finance Planning and Economic Development
A total of Shs 3.4bn was received from UEDCL as part payment of Government on-lent loans
while no payments were made in settlement of domestic arrears having frontloaded the bulk
of the budget to the first half of the financial year.
Page 13
PERFORMANCE OF THE RESOURCE ENVELOPE

Total resources available for fiscal operations excluding payments for domestic arrears and
external debt amortization amounted to Shs 924.7bn. The resource envelope for June 2012
was supported in almost equal measure by domestic resource mobilization of Shs 501.7bn
(equivalent to 54%) and external assistance of Shs 423.0bn (equivalent 46%).
Table 3: Performance of the Resource Envelope

Outturn
Prog
Prov
Jun '11
Jun '12
Jun '12
Impulse
Dev
Resource envelope
704.4
689.9
924.7
31%
Domestic resource mobilisation
605.8
603.0
501.7
-17%
Tax revenue
575.7
646.4
752.8
31%
106.3
116%
81%
Oil revenues
n.a
n.a
n.a
NonTax revenue
15.0
14.3
11.8
-21%
(2.5) 83%
1%
Loan repayments
3.0
3.2
3.4
n.a
12.2
(61.0)
98.5
86.9
423.0
329%
336.1
487%
46%
Foreigngrants
65.0
47.8
154.4
138%
106.7
323%
17%
External Debt financing net
33.6
39.1
268.6
701%
229.5
687%
29%
Other financing (net) /2

External assistance (net of armotization)
(266.3) -2283%
234.8
Perf Composition
134%
100%
(101.3) 83%
54%
0.2
105%
(205.3) 437%
0%
-29%
/2 Includes domestic arrears repayments

URA Revenues
URA revenue collections in June amounted to Shs 752.8bn, which was Shs 106.3bn or 16.5%
above the target. Collections on domestic and international trade were above target by
19.5% and 9.5%, respectively.
On a cumulative basis, URA revenue collections for FY2011/12 amounted to Shs 6,135.9bn,
which was Shs 33.3bn below the target for the year1. This represents a growth in revenue
collections of 20% as compared to FY 2010/11. During the year ending June 2012, Uganda
Revenue Authority collected stamp duty from farm out oil transactions amounting to Shs.
72.3 bilion.
Figure 10 shows the revenue collections and targets by tax heads for month of June 2012.
This excludes collections attributed to stamp duty on petroleum transactions, which were not included in the
target.
1
Page 14
Figure 10: Revenue Targets and Outturns Billion (Shs), June 2012
Source: Uganda Revenue Authority
3.1 Direct Domestic Taxes (DDT)

Direct domestic tax collections amounted to Shs 391bn in June, representing Shs 60.1bn or
18.2% above target. This performance was largely attributed to strong collections on
corporate tax, PAYE and withholding taxes, the three largest items in the tax head, which
were 12.1%, 27.9% and 19.5% above their monthly targets. The performance of this tax head
is attributed to a rebound in incomes amongst businesses and corporates during the fourth
quarter. However, on an annual basis, PAYE and withholding tax collections were below
target by 5.7% and 5%, respectively, whilst withholding tax collections were 7.6% above
target. Overall, direct domestic tax collections amounted to Shs 1,992bn in FY 2011/12,
which was 2 percentage points below target for the year.
3.2 Indirect Domestic Taxes (IDT)
Indirect domestic tax collections were Shs 23bn or 24% above target, as collections on both
VAT and excise duties were above projections. VAT collections were Shs 3.7bn or 14.3%
above, while excise duties above their target by Shs 19.3bn or 27.6%. With the exception of
excise duty on sugar, cement and bottled water, all items performed above their monthly
target. On a cumulative basis, indirect domestic taxes for the financial year were Shs 59bn or
4.8% above the target.
3.3 International Trade Taxes (TIT)
Page 15
Taxes on international trade amounted to Shs 246.7bn, representing Shs 21.4bn or 9.5%
above target, as VAT on imports and import duties, two of the three largest items in the tax
head overperformed and offset the underperformance by petroleum duty. Import duty and
VAT collections were 23.6% and 8.5%, respectively above target, while petroleum duties fell
5.1% below its monthly target. The performance by international trade taxes were buoyed
by increased cross border trade especially on imports during the month. Cumulatively,
international trade taxes for the financial year totalled Shs 2,905bn, representing a
performance rate of 98.6%.
3.4 Fees and Licenses
Collections on fees and licenses amounted to Shs 1.84bn or 21.9% above their target during
the month. Motor vehicle fees, drivers permits and embossing fees all performed above
their respective monthly targets at 126%, 118% and 115%, respectively.
4. Non Tax Revenue (NTR)
Non tax revenue collections in June amounted to Shs. 11.8bn surpassing the monthly target
by about Shs 2.3bn or 26%. In comparison to the same month last year non-tax revenue
collections increased by 153%. The NTR performance in June is on account of improved
collections from the migration fees and the high court fees.
Table 4: Overall Non Tax Revenue Collection-June 2012 (Billions, Shs)
Total Non Tax

Ministries
Outturn
Prog
May '11
Jun '12
Prov
Jun '12
4.6
9.4
11.8
Impulse Dev
Perf
153%
2.3
125%
99%
4.3
8.6
8.5
98%
(0.0)
Own Collections
0.7
2.9
1.2
75%
(1.7)
42%
URA Collections
3.6
5.6
7.3
103%
1.6
129%
Passport fees
0.7
0.7
0.5
-18%
(0.1)
84%
Migration fees
0.7
2.5
4.5
517%
1.9
177%
Land fees
0.2
0.1
0.0
-91%
(0.1)
26%
Transport regulation fees
0.3
0.2
0.1
-55%
(0.0)
72%
Company Regulation fees
0.4
0.3
0.0
-96%
(0.3)
6%
High Court Fees
0.6
0.4
0.4
-34%
(0.0)
90%
Mining Fees & Royalties
1.0
0.4
0.4
-59%
0.0
101%
Others
1.0
1.3
n.a
0.3
129%
Hospitals
0.2
n.a
(0.2)
0%
Missions
0.7
0.3
n.a
(0.4)
45%
Dividends
0.3
2.9
772%
2.9
n.a
Interest on Project Deposits
0.0
n.a
0.0
n.a
Miscelleneus
0.0
n.a
0.0
n.a
BoU-IMF MDRI
n.a
na
5. External Financing
Total external inflows increased in June. A total of US$ 174.2 million was received during the
month compared to US$ 38.9 million in May, and was US$ 136.6 million above the target.
5.1 Budget Support
Page 16
Total budget support disbursements amounted to US$ 34.6 million, representing US$ 30.6
million above the projected level. The disbursements were in the form of grants. The EU and
Denmark disbursed a total of US$ 26.5 million towards general budget support. Other budget
support disbursements were US$ 6.0 million under NUSAF, US$ 2.68 to the water sector, and
US$ 2.11 million. Table 5 shows the details of aid disbursements in June 2012.
Table 5: External Aid Disbursements in June 2012 US$ Millions

Jun '11
Jun '12 Jun '12
2011
Prog
2012
Impulse
Budget Support
7.9
4.0
34.6
340%
Grants
4.0
34.6
n.a
Loans
7.9
n.a
Project Support
35.9
33.6
139.6
289%
Grants
27.6
13.3
27.6
0%
Loans
8.3
20.3
112.1 1247%
Total
43.7
37.6
174.2
629%
Source: Ministry of Finance, Planning and Economic Development
Perf
862%
862%
n.a
415%
207%
551%
1278%
Dev
30.6
30.6
106.0
14.3
91.7
136.6
5.2 Project Support

Project Support disbursements amounted to US$ 139.6 million in June. The largest
beneficiary sectors were roads and works (44%), education (15%), defense (13%) and
health (9%).
By flow type, 80% of project support disbursements were loans whereas 20% were grants.
6. Overall Expenditures
Total spending (excluding domestic arrears repayments) increased to Shs. 947.3 billion in
June from the Shs 637.1 billion recorded in May 2012. In contrast to the last two years, the
large month on month rise in spending was due to the escalation of donor project
disbursements which impact on external development spending. Recurrent and domestic
development spending remained in tandem with the projected levels.
Page 17
Table 5: Spending by Sector and Budget Classification (Billions Shs)
Security
Jun '12
Jun '12
Jun '12
Jun '12
Wage
Non-wage
Dom
Donor Proj
Jun '12
Bill
reccur
Dev't
Dev.disb
Prov
Salaries
Non-Wage
GoU-Devt Donor-Devt
Total
31.0
20.9
2.2
47.1
101.2
19.3%
9.4%
1.1%
12.8%
10.7%
Roads & Works
2.1
3.2
74.2
161.4
240.9
1.3%
1.5%
38.0%
43.7%
25.4%
Agriculture
1.7
5.2
18.3
4.4
29.6
1.0%
2.3%
9.4%
1.2%
3.1%
Education
61.6
3.9
5.0
56.4
127.0
38.3%
1.8%
2.6%
15.3%
13.4%
Health
16.9
23.4
3.4
31.7
75.4
10.5%
10.5%
1.8%
8.6%
8.0%
Water & Environment
5.0
1.0
6.2
4.9
17.1
3.1%
0.5%
3.2%
1.3%
1.8%
Justice, Law & Order
14.9
18.5
16.6
50.1
9.3%
8.3%
8.5%
0.0%
5.3%
Accountability
7.7
14.9
10.7
11.4
44.7
4.8%
6.7%
5.5%
3.1%
4.7%
Energy & Minerals
0.2
0.3
33.7
4.6
38.8
0.1%
0.1%
17.3%
1.3%
4.1%
Tourism, Trade & Industry
1.3
0.3
1.7
3.0
6.3
0.8%
0.1%
0.9%
0.8%
0.7%
Lands, Housing & Urban Development
0.2
0.7
1.2
2.1
0.1%
0.3%
0.6%
0.0%
0.2%
Social Development
0.2
0.7
0.3
1.1
0.1%
0.3%
0.2%
0.0%
0.1%
Information & Communication Technology
0.1
0.2
0.2
4.4
4.9
0.0%
0.1%
0.1%
1.2%
0.5%
12.6
19.3
9.8
39.4
81.1
7.8%
8.7%
5.0%
10.7%
8.6%
Public Administration
3.0
33.1
10.8
0.2
47.1
1.9%
14.9%
5.5%
0.1%
5.0%
Parliament
2.3
20.2
1.0
23.5
1.4%
9.1%
0.5%
0.0%
2.5%
Interest Payments Due
56.3
56.3
0.0%
25.4%
0.0%
0.0%
5.9%
Domestic Interest
50.0
50.0
0.0%
22.5%
0.0%
0.0%
5.3%
External Interest
6.3
6.3
0.0%
2.8%
0.0%
0.0%
0.7%
165.8
198.0
369.1
815.7
51.5%
74.6%
101.3%
100.0%
86.1%
8.2%
Public Sector Management
Total Centre
82.8
Total Local Government Programmes
77.9
Total Interest
Grand total
% of total spending
77.9
48.5%
0.0%
0.0%
0.0%
56.3
56.3
0.0%
25.4%
0.0%
0.0%
5.9%
160.7
222.1
195.4
369.1
947.3
100.0%
100.0%
100.0%
100.0%
100.0%
17%
23%
21%
39%
100%
By budget classification, with the exception of interest costs and the development budget, all
expenditure aggregates remained within the programmed levels. By sector, spending was
largely concentrated around roads and works (25.4%), education (13.4%), security (10.7%),
public sector management (8.6%) and health (8.0%).
Figure 12: Expenditures by Sector, June 2012 (Billions, Shs)
Page 18
Jun '11
Jun '12
180.0
160.0
140.0
120.0
100.0
80.0
60.0
40.0
20.0
-
Page 19
APPENDICES
Appendix 1: Economic and Financial Indicators to June 2012

Economic and Financial Indicators
Real Sector
Annual Inflation
Headline %
Core %
Coffee Exports
Volumes 60 kg Bags
Values US $ M
Monetary Sector
M3 - Shs Bn
M2- Shs Bn
NCG- Shs Bn
Private Sector Credit - Shs Bn
Fx Loans - US $ M
M2 as % M3
Fx Loans as % PSC
Exchange Rate Shs/$
Interest rates
91 day TB - %
182 day TB -%
364 day TB-%
Weighted Average(TBs) - %
June'11
July'11
Aug'11
Sept '11
Oct'11
Nov'11
Dec'12
Jan'12
Feb'12
15.8%
12.2%
18.8%
15.6%
21.4%
20.1%
28.3%
27.5%
30.4%
30.8%
29.0%
30.6%
27.0%
29.2%
25.6%
28.0%
370,924
57.9
375,843
54.6
309,303
44.4
340,378
48.8
215,285
30.4
227,177
34.6
242,301 226,462
37.0
33.7
10,437.79
7,945.76
673.07
6,512.73
1,864.47
0.76
0.29
10,438.72
7,928.18
428.12
6,559.02
1,866.96
0.76
0.28
2,461.04
2,587.23
2,753.23
2,814.00
2,805.37
2,582.18
12.1
12.41
12.55
13.0
13.09
13.47
13.3
15.0
15.95
16.1
16.92
17.0
17.23
18.15
20.1
20.0
21.23
21.92
23.71
23.0
21.2
23.1
23.5
23.3
Mar'12
Apr'12
May'12
June'12
25.7%
26.7%
21.1%
23.6%
20.0%
22.8%
18.6%
21.2%
244,319
36.2
187,592
30.2
141,220
21.9
252,548 275,057
35.8
36.6
10,836.37 10,666.08 10,480.07 10,495.41 10,426.57 9,966.85 10,264.65 10,565.79

7,952.56 7,717.32 7,728.89 7,695.87 7,638.06 7,386.68 7,674.37 7,651.97
427.50
698.34
757.68
601.46
239.87 218.84
79.27 (251.31)
6,831.95 7,069.76 6,965.38 7,038.60 6,981.65 6,864.63 6,895.74 7,103.30
1,984.08 2,095.25 1,931.45 1,996.51 1,997.80 1,963.68 2,090.39 2,342.19
0.73
0.72
0.74
0.73
0.73
0.74
0.75
0.72
0.29
0.30
0.28
0.28
0.29
0.29
0.30
0.33
10,423.81
7,497.23
(319.01)
7,130.65
2,380.90
0.72
0.33
2,446.91 2,414.19
22.9
24
22.3
22.6
2,327.97
2,485.02
2,506.21
19.7
19.4
19.0
19.1
17.3
19.0
19.3
19.2
18.1
19.9
20.3
20.1
23.0
24.6
24.5
24.5
18.0%
19.5%
2,479.05 2,484.36
18.2
20.2
20.2
20.1
18.6
19.5
19.2
19.2
Compiled by Ministry of Finance planning and Economic Development, MEPD
Page 20
Appendix 2: Exports US 000 Dollars May 2012

COMM
DESCRIPTION
May'11 Jun'11 Jul'11
Aug'11 Sep'11 Oct'11 Nov'11 Dec'11 Jan'12
Feb'12 Mar'12 Apr'12 May'12 Total
Traditional
FY 11/12
01
Coffee
40,022
57,948
54,627
44,363
48,825
30,455
36,163
30,183
21,865
35,772
371,818
02
Cotton
8,645
1,470
4,098
1,197
242
34,661 36,969 33,707

172
3,812
9,314
11,438
16,278
12,485
9,159
59,035
03
Tea
6,974
5,957
7,202
5,505
5,909
6,333
6,753
6,779
7,450
4,223
2,968
3,714
8,360
56,836
04
Tobacco
4,784
4,256
1,943
3,331
3,972
2,944
6,543
5,316
7,022
6,177
5,655
3,204
4,321
46,109
204
93
27
80
99
96
63
323
Non - Traditional
05
Live Animals
06
Fish and Fish Products
11,146
11,570
9,680
9,987
11,588
11,402
11,939 15,761 12,438
12,274
11,795
9,526
11,964
116,391
07
Flowers
1,984
1,284
1,829
2,351
2,400
1,978
1,734
1,176
1,801
2,315
2,351
1,848
3,783
19,784
08
Beans and Other Legumes
1,064
3,305
2,428
2,825
2,390
2,961
841
939
379
690
622
938
622
15,013
09
Bananas
15
60
11
17
48
38
23
23
27
51
63
19
311
10
Fruits
211
122
206
126
207
33
141
32
23
54
57
37
66
916
11
Pepper
154
116
31
69
119
38
311
92
348
183
110
56
1,301
12
Maize
2,403
1,176
2,798
5,642
3,255
2,404
1,252
934
1,670
5,034
8,325
4,064
4,618
35,377
13
Ground-nuts
28
34
51
18
117
319
166
99
36
836
14
Sesame Seeds
1,544
376
100
1,009
1,215
803
290
403
2,035
1,290
2,012
2,211
1,280
11,369
15
Cocoa Beans
2,753
3,202
2,149
1,114
2,054
3,025
4,200
4,035
3,806
4,145
4,518
3,095
2,949
32,141
16
Electric Current
1,199
1,528
1,543
1,661
1,482
1,386
1,362
1,346
962
1,451
1,391
1,740
1,548
14,324
17
Soap
2,342
1,703
2,425
2,567
2,912
2,019
2,098
2,337
3,159
3,212
3,301
2,833
2,826
26,862
18
Hides and Skins
2,591
3,004
2,119
1,915
2,567
3,831
3,229
2,542
2,549
3,453
3,980
3,604
4,920
29,789
19
Gold and Gold Compounds
336
410
950
454
501
832
296
1,590
1,007
874
853
1,199
1,134
8,556
20
Hoes and Hand Tools
37
21
37
44
26
19
166
71
1,672
63
2,065
21
Cobalt
1,585
1,581
1,581
1,581
1,048
1,587
1,579
1,581
527
1,580
527
527
1,054
12,118
22
Petroleum Products
7,934
8,802
9,383
7,817
8,414
9,307
10,245
8,880
11,256
11,529
11,944
11,957
10,576
100,733
23
Other Precious Metals
97
172
20
59
38
13
26
68
493
24
Vanilla
197
64
90
16
527
936
77
149
15
84
449
834
212
3,177
25
Soya beans
125
318
235
25
11
58
15
62
16
848
26
Sorghum
41
27
30
11
50
17
592
431
1,408
159
752
2,699
27
Plastic Products
1,604
1,705
1,646
1,947
2,140
1,929
1,934
1,835
1,930
2,221
2,003
1,969
1,520
19,554
28
Animal/Veg Fats & Oils
9,623
7,917
8,669
9,611
8,811
8,652
10,292
7,266
12,680
10,412
8,096
8,332
9,299
92,821
29
Sugar & Sugar Conftionary
9,024
6,287
2,666
5,358
5,050
6,681
9,130
8,287
5,963
5,712
10,363
10,447
17,486
69,657
30
Iron and Steel
7,155
5,588
6,159
6,880
7,291
6,456
6,574
6,541
5,717
5,796
6,145
6,222
7,373
63,780
31
Cement
6,856
8,404
8,650
9,143
8,817
8,525
8,874
8,440
8,534
6,991
8,047
8,767
8,567
84,789
32
Beer
2,231
2,188
1,993
1,689
1,573
1,625
1,988
2,175
1,573
1,972
2,156
1,823
2,160
18,566
33
Telephones for Cellular
8,531
9,189
15,086
14,467
6,314
10,945
10,414 14,270
8,209
5,503
9,878
7,211
9,910
102,297
34
Rice
1,489
1,503
1,840
1,691
1,455
1,973
1,756
2,637
2,130
2,416
2,425
3,798
2,798
22,120
35
Mineral Water
495
352
45
294
244
503
659
1,377
1,652
2,021
1,573
1,603
1,568
9,972
36
Vegetables
349
678
623
37
Other
141
89
69
163
245
373
758
771
567
476
4,596
34,386
43,040
39,599
40,501
34,016
36,268
38,288 43,790 36,669
46,394
43,867
44,607
40,525
404,001
Traditional
60,425
69,632
67,870
54,397
58,947
39,732
48,130 52,876 57,494
58,001
55,084
41,267
57,611
533,798
Non - Traditional
119,254 124,725 124,020 131,369 116,976 126,731 129,815 139,425 128,207 139,521 149,427 142,087 150,238 1,327,579
All Products
179,679 194,356 191,890 185,766 175,923 166,463 177,945 192,301 185,701 197,522 204,512 183,355 207,849 1,861,376

Page 21
Appendix 3: Imports by SITC2 & value in US 000 Dollars May 2012

SITC2
Description
00
01
02
03
04
05
06
07
08
09
11
12
21
22
23
24
25
26
27
28
29
32
33
34
35
41
42
43
51
52
53
54
55
56
57
58
59
61
62
63
64
65
66
67
68
69
71
72
73
74
75
76
77
78
79
81
82
83
84
85
87
88
89
96
97
Live animals other than animals of division 03

Meat and meat preparations
Dairy products and bird's eggs
Fish, crustaceans and molluscs and preparations thereof
Cereals and cereal preparations
Vegetables and fruit
Sugars, sugar preparations and honey
Coffee, tea, cocoa, spices, and manufactures thereof
Feeding stuff for animals (not including unmilled cereals)
Miscellaneous edible products and preparations
Beverages
Tobacco and tobacco manufactures
Hides, skins and furskins, raw
Oil-seeds and oleaginous fruits
Crude rubber (including synthetic and reclaimed)
Cork and wood
Pulp and waste paper
Textile fibres (other than wool tops), wastes; not manufactured
Crude fertilizers and minerals (excl. coal, petrol, precious stones)
Metalliferous ores and metal scrap
Crude animal and vegetable materials, nes
Coal, coke and briquettes
Petroleum, petroleum products and related materials
Gas, natural and manufactured
Electric current
Animal oils and fats
Fixed vegetable fats and oils, crude, refined or fractionated
Anim. or veget. fats and oils, processed; animal or vegetable waxes
Organic chemicals
Inorganic chemicals
Dyeing, tanning and colouring materials
Medical and pharmaceutical products
Essential oils, perfume materials; toilet cleaning preparations
Fertilizers , manufactured (other than those of group 272)
Plastics in primary forms
Plastics in non-primary forms
Chemical materials and products, nes
Leather, leather manufactures, nes, and dressed furskins
Rubber manufactures, nes
Cork and wood manufactures (excl. furniture)
Paper, paperboard, and articles of paper pulp, paper or paperboard
Textile yarn, fabrics, made-up articles, nes, and related products
Non-metallic mineral manufactures, nes
Iron and steel
Non-ferrous metals
Manufactures of metals, nes
Power generating machinery and equipment
Machinery specialized for particular industries
Metal working machinery
General industrial machinery and equipment, nes, machine parts, nes
Office machines and automatic data-processing machines
Telecommunications and sound recording/reproducing apparatus, etc
Electrical machinery, apparatus and appliances, nes
Road vehicles (including air-cushion vehicles)
Other transport equipment
Prefabricated buildings; sanitary, plumbing, etc, fixtures and fittings
Furniture and parts thereof; bedding, mattresses, mattress supports, etc
Travel goods, handbags and similar containers
Articles of apparel and clothing accessories
Footwear
Professional, scientific and controlling instruments and apparatus, nes
Photographic apparatus, equipment and supplies and optical goods; watches
Miscellaneous manufactured articles, nes
Coin (excl. gold coin), not being legal tender
Gold, non-monetary (excl. gold ores and concentrates)
Grand Total
May'11
Jun'11
Jul'11
Aug'11
Sep'11
Oct'11
Nov'11
Dec'11
Jan'12
Feb'12
Mar'12
Apr'12
May'12
234
246
118
140
124
292
227
276
122
293
120
222
161
120
175
128
243
728
157
325
331
182
216
292
235
224
431
577
317
314
358
476
320
812
610
481
523
802
240
228
225
220
115
118
321
429
251
136
356
438
302
265
26,632 16,300 22,944 27,582 14,638 23,886 18,769 18,143 19,838 24,732 23,754 25,587 27,643
1,662
1,511
1,476
1,018
1,184
1,065
1,319
1,997
935
1,613
1,196
1,930
2,246
3,493
2,803
3,273
7,897
13,085 16,238 35,649 34,548 31,419 20,947 16,532 14,146 18,003
326
559
695
684
980
578
1,352
761
779
384
422
521
537
99
131
86
251
121
187
156
288
94
145
139
154
94
3,121
2,944
3,733
3,569
2,421
2,857
2,112
2,692
4,361
3,341
3,218
2,708
3,502
2,976
3,304
3,028
3,350
2,994
2,642
3,883
4,026
2,997
2,556
3,661
3,768
3,890
1,458
1,348
1,003
974
1,117
1,098
1,342
1,728
301
1,425
903
1,090
1,073
62
72
66
62
126
123
123
100
145
73
99
103
156
118
117
609
7
309
177
4
3
549
18
22
22
33
6
6
8
2
5
12
76
82
2
2
7
18
1
116
65
125
35
117
77
101
104
106
147
100
79
83
45
32
44
34
24
17
25
45
42
49
57
65
50
3,774
3,811
3,545
4,350
3,427
3,455
3,263
4,650
5,121
3,679
6,430
5,838
6,222
1,941
2,103
2,383
2,555
2,364
3,348
2,413
2,395
2,132
1,943
2,234
2,612
2,701
762
387
713
650
704
740
856
835
708
711
641
860
624
450
484
434
309
546
427
371
459
555
929
431
660
748
1,593
47
3
2,659
2,955
16
4
9
0
8
3
1
0
112,971 111,066 113,450 124,689 112,965 108,314 102,598 113,646 122,878 107,333 120,411 102,833 121,303
902
2,669
789
1,049
662
1,049
670
992
1,494
1,031
1,252
602
650
651
912
1,043
831
790
765
983
966
859
1,099
1,469
1,413
865
3
4
13
32
7
14
57
18
3
95
1
15
0
19,968 16,562 19,701 21,097 20,804 19,465 21,553 14,723 20,338 21,839 23,926 19,877 20,734
4,476
2,759
1,681
2,546
1,434
1,912
1,905
3,497
2,095
2,133
3,346
2,108
2,293
5,017
4,110
4,676
5,964
6,866
5,093
5,827
5,525
7,033
7,276
8,030
6,909
6,409
1,933
2,838
2,828
3,002
2,488
2,048
3,378
3,881
2,313
2,878
2,754
2,424
3,488
1,527
1,625
1,283
1,324
2,048
1,730
1,826
1,406
958
1,933
1,714
1,869
2,850
17,846 16,421 25,890 25,839 17,992 30,915 20,223 19,988 19,106 20,615 24,056 21,450 16,997
9,979
7,232
6,399
6,973
5,337
9,040
7,001
7,822
6,983
9,644
7,585
6,021
8,365
1,771
1,022
2,000
2,474
3,755
1,530
1,401
2,790
3,041
2,234
2,309
3,498
2,217
12,893 16,647 14,231 15,168 11,079 13,459 13,132 10,149 12,996 11,842 14,818 15,312 15,868
2,234
2,245
2,429
3,390
3,572
3,919
2,572
5,891
4,029
4,487
2,001
2,256
2,261
4,386
5,277
4,870
6,008
3,594
4,132
5,133
5,558
4,699
5,278
4,721
4,727
5,523
15
3
6
11
9
7
18
15
4
44
5
7
23
4,984
3,999
4,406
4,164
4,075
4,498
4,470
3,860
5,272
4,238
5,593
4,289
5,487
321
482
394
412
260
413
288
211
539
454
763
516
492
9,247
8,840
11,131 15,225 8,811
10,394 8,673
8,518
9,169
9,402
10,569 11,040 12,879
5,509
5,838
4,948
6,494
5,023
5,731
6,423
6,630
9,506
6,652
6,914
5,372
7,602
13,930 15,008 16,085 13,824 11,331 10,237 11,530 11,814 14,171 13,075 14,889 13,655 15,195
25,540 26,181 19,207 23,251 25,117 25,002 23,438 21,015 26,679 30,069 26,235 21,781 18,808
2,019
3,208
2,844
3,152
1,596
2,356
2,177
1,597
2,461
3,285
1,971
1,634
3,118
9,463
9,257
8,590
10,492 7,839
7,034
7,551
6,208
6,267
7,657
7,403
7,348
8,246
7,786
4,559
3,699
6,978
4,723
5,529
4,068
4,002
4,985
5,175
7,247
5,958
9,144
22,248 36,745 21,379 21,390 16,203 17,083 17,360 24,618 19,608 25,995 25,260 24,106 63,528
2,000
3,398
1,172
730
704
1,635
1,548
1,184
1,420
3,189
3,115
4,528
3,867
11,837 11,778 9,541
13,464 19,118 11,048 11,916 7,588
8,989
9,913
14,832 10,504 13,982
7,228
4,313
4,847
7,286
3,699
5,319
4,372
4,092
3,925
5,871
7,475
5,909
4,726
23,073 26,725 43,923 35,393 18,693 24,709 18,806 20,616 23,422 16,250 29,538 19,303 20,452
11,357 11,994 11,100 12,362 13,235 10,405 10,106 10,868 10,465 12,545 13,489 11,469 13,180
55,531 48,843 39,537 43,111 37,521 34,780 33,503 41,118 32,599 35,278 36,395 39,113 66,070
1,072
1,907
10,679 4,052
4,063
3,159
3,390
4,082
1,842
2,237
2,302
8,879
2,346
1,060
1,861
1,628
1,656
1,125
1,833
1,723
1,894
1,855
1,234
1,099
1,047
1,692
871
1,882
1,693
1,920
1,841
1,055
1,272
2,144
1,721
1,474
1,650
944
1,458
782
814
889
809
739
744
789
1,058
933
965
513
577
824
4,708
4,499
3,980
4,378
3,449
3,367
5,032
4,590
4,783
3,847
3,507
3,065
5,110
4,227
4,140
3,469
3,461
2,582
2,864
3,873
4,190
2,904
3,233
2,565
3,336
4,052
5,206
7,550
9,145
6,599
4,513
9,264
3,729
8,546
5,684
6,587
4,560
7,114
12,590
475
501
791
490
1,490
627
444
449
556
342
513
520
347
7,510
10,195 10,436 12,499 7,364
10,426 8,678
9,691
7,864
11,223 10,741 8,781
7,378
0
0
0
0
0
207
0
0
1
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
484,197 483,154 491,753 530,789 446,963 471,302 456,553 481,985 487,582 484,001 518,757 473,830 580,916
Total
FY 2011/12
1,935
2,837
5,012
2,686
219,874
13,734
193,735
7,156
1,619
31,011
32,905
10,982
1,020
1,719
213
992
401
43,758
24,378
7,417
5,121
5,658
1,129,117
9,589
10,219
256
203,324
22,657
63,199
27,994
16,091
226,074
72,804
25,032
132,185
34,546
48,721
125
44,865
4,250
102,931
63,693
130,610
241,795
23,073
76,389
52,365
213,003
19,225
116,914
52,794
250,654
116,046
372,956
44,685
15,095
15,712
8,017
39,998
32,476
65,741
6,223
97,702
208
0
4,843,516
Page 22
Appendix 4: Revenue Summary, June 2012
Revenue (Shs. billion)

Net URA collections
Direct Domestic Taxes
Indirect Domestic Taxes
Taxes on international Trade
Fees and Licenses
Total NTR
Budget Months
2011/12 Target
6,169.26 646.45
1,912.29 330.99
1,237.48
95.74
2,946.08 225.36
120.93
8.40
120.60
6.27
Cumm
Months
Cumm Target Collections
Collections Abs Dev Performance 11/12 11/12
752.79 106.34 116.5%
6,169.26 6,135.94
391.08 60.09
118.2%
2,033.23 1,991.90
118.74 23.01
124.0%
1,237.48 1,296.51
250.33 24.97
111.1%
2,946.08 2,905.31
10.24 1.84
121.9%
120.93
111.22
7.28 1.02
116.2%
68.00
65.45
Page 23
Abs Dev Performance

-33.32 99.5%
-41.33 98.0%
10.68 104.8%
-40.77 98.6%
-9.72
92.0%
-2.55
96.3%
Appendix 5: Provisional Overall Fiscal Operations in billion Shs, June 2012

Table 1: Overall Fiscal Operations
Revenues and Grants
Prov
Prov
Prov
Prel
Prel
Prel
Prel
Prel
Prel
Prel
Prel
Prel
Prel
Prel
Prel
May '11
Jun '11
Jul'11
Aug '11
Sep '11
Oct '11
Nov '11
Dec '11
Jan '12
Feb '12
Mar '12
Apr '12
May '12
Jun '12
Jul-Jun'12
516.0
655.6
462.5
537.1
536.2
519.1
652.1
898.7
549.4
889.5
630.2
524.7
557.9
919.0
7,676.6
431.4
590.7
407.6
491.5
470.9
464.2
468.0
669.3
518.9
806.9
569.1
494.3
508.9
764.6
6,634.1
425.2
575.7
402.2
485.3
466.4
450.3
462.4
661.0
510.3
474.4
487.5
483.8
499.6
752.8
6,135.9
Non-URA
6.2
15.0
5.5
6.1
4.5
13.9
5.6
8.3
8.7
13.0
8.8
10.4
9.3
11.8
105.9
Oil revenues
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
319.5
72.8
0.0
0.0
0.0
392.3
Grants
84.6
65.0
54.8
45.7
65.4
54.9
184.1
229.5
30.5
82.6
61.1
30.5
49.0
154.4
1,042.5
Budget Support
18.8
18.8
33.8
21.6
37.5
33.1
72.1
141.8
6.2
42.2
31.0
10.7
11.4
85.9
527.4
Project Support
65.8
46.1
21.0
24.1
27.8
21.8
112.0
87.7
24.3
40.4
30.1
19.8
37.7
68.5
515.1
Expenditure and Lending
822.4
702.3
734.9
937.3
622.2
710.5
766.6
588.2
1,216.8
761.3
492.2
938.0
712.8
921.3
9,402.0
Expenditure excl arears
821.4
704.4
673.7
870.2
514.2
706.7
758.0
584.7
1,219.4
761.3
499.2
933.8
717.1
924.7
9,163.0
Current Expenditures
489.6
436.6
333.7
518.6
376.9
528.4
471.8
401.4
531.5
498.8
337.4
525.1
498.9
382.4
5,404.9
Wages and Salaries
140.1
146.7
142.6
144.3
148.8
151.8
151.6
148.7
153.4
153.0
149.4
156.5
164.5
160.7
1,825.3
Interest Payments
36.3
41.6
33.2
38.3
48.1
51.7
43.0
49.4
50.5
57.7
73.1
56.7
59.6
55.9
617.3
Domestic
32.0
36.8
31.9
33.3
37.8
35.7
37.4
43.0
41.4
46.8
53.2
49.3
54.8
50.0
514.7
External
4.2
4.8
1.3
5.0
10.3
16.0
5.6
6.4
9.2
10.9
19.8
7.4
4.7
5.9
102.6
312.0
241.5
157.9
336.0
180.0
324.9
277.2
203.4
327.6
288.1
115.0
311.8
274.8
165.8
2,962.3
Revenues
URA
Other Recurr. Expenditures

Development Expenditures
331.9
267.7
340.0
351.6
137.4
178.3
286.2
183.2
687.9
262.5
161.8
408.8
218.3
542.3
3,758.1
Domestic Development
230.3
150.3
192.7
170.2
64.1
137.5
216.1
88.9
332.6
166.2
67.2
194.6
85.6
195.4
1,911.1
External Development
101.6
117.4
147.3
181.3
73.3
40.8
70.1
94.4
355.3
96.3
94.5
214.2
132.7
346.9
1,847.0
Net Lending/Repayments
0.0
-3.0
1.4
-12.1
0.0
0.0
0.0
-7.1
-6.7
0.0
-7.0
0.0
-4.5
-3.4
-39.4
Domestic Arrears Repaym.
1.0
0.9
59.8
79.1
108.0
3.8
8.5
10.6
4.2
0.0
0.0
4.1
0.1
0.0
278.3
Domestic Balance
-285.2
10.6
-178.7
-259.5
-67.8
-189.5
-222.8
181.8
-333.4
152.9
191.2
-222.0
-66.5
196.1
-818.2
Primary Balance
-270.2
-5.1
-239.2
-361.8
-37.9
-139.7
-71.4
359.9
-616.8
186.0
211.0
-356.5
-95.3
53.6
-1,108.1
Overall Fiscal Bal. (excl. Grants)
-391.0
-111.6
-327.3
-445.8
-151.4
-246.3
-298.5
81.1
-697.9
45.6
76.9
-443.7
-203.8
-156.7
-2,767.8
Overall Fiscal Bal. (incl. Grants)
-306.4
-46.6
-272.4
-400.1
-86.0
-191.4
-114.4
310.5
-667.4
128.3
138.0
-413.2
-154.8
-2.3
-1,725.3
Financing:
306.4
46.6
272.4
400.1
86.0
191.4
114.4
-310.5
667.4
-128.3
-138.0
413.2
154.8
2.3
1,725.3
-306.4
-46.6
84.2
89.7
2.2
36.0
145.7
88.7
145.0
27.0
13.7
185.1
36.2
268.6
1,121.9
19.9
52.9
90.8
113.5
27.8
63.9
160.8
110.4
153.1
48.8
38.9
202.2
47.4
278.4
1,336.1
o/w Budget support
0.0
0.0
0.0
0.0
0.0
0.0
125.7
0.0
0.0
0.0
0.0
0.0
0.0
0.0
125.7
o/w Project support
19.9
52.9
90.8
113.5
27.8
63.9
35.1
110.4
153.1
48.8
38.9
202.2
47.4
278.4
1,210.4
External Financing (Net)

Disbursements
Armotization (net)
-12.2
-19.3
-6.5
-23.8
-25.6
-27.9
-15.1
-21.8
-8.1
-21.9
-25.2
-17.2
-11.2
-9.8
-214.1
Other Financing (net)
284.3
184.6
188.2
310.4
83.8
155.4
-31.2
-399.2
522.4
-155.2
-151.6
228.1
118.6
-266.3
603.4
Bank Financing (Net)
353.1
95.7
-245.0
-0.6
270.8
59.3
-156.2
-361.6
-21.0
-139.6
-330.5
-68.5
94.6
1/ Includes errors & ommissions

2/ May differ from donor project disbursements on account of net changes in deposits and is subject to monthly revisions as new information is Obtained.
*The numbers for project grants, project loans and external development (July 2011-April were revised in May 2012 to reflect new information on project support disbursements
Page 24
Appendix 6: Consolidated Expenditures excl Donor Projects in billion Shs, June 2012
Prov
Prov
Prov
Prel
Prel
Prel
Prel
Prel
Prel
Prel
Prel
Prel
Prel
May '11 Jun '11 Jul'11 Aug '11 Sep '11 Oct '11 Nov '11 Dec '11 Jan '12 Feb '12 Mar '12 APr '12 May'12
Security
131.4 57.8
29.0
157.5
88.9
95.9
49.8
93.5
104.9
88.2
53.1
67.1
120.8
Roads & Works
29.3 34.3
47.8
127.0
33.0
12.6
142.5
34.0
62.5
150.6
31.3
25.5
65.5
Agriculture
9.2 37.3
46.7
11.3
11.1
23.4
16.3
9.2
81.4
14.2
2.2
8.1
8.7
Education
73.1 86.6
130.4
98.5
68.8
167.2
78.7
66.8
118.5
82.4
65.6
109.2
95.3
Health
32.6 97.3
44.8
39.5
56.5
54.7
51.1
52.6
82.5
31.1
20.3
72.1
38.6
Water & Environment
8.0 4.8
14.8
16.4
5.3
18.4
8.6
11.4
9.8
6.9
2.0
23.6
7.4
35.1 71.1
21.8
73.8
30.3
37.5
75.8
52.0
44.9
76.5
27.9
64.4
41.7
Accountability
23.4 32.0
41.6
27.9
22.8
27.1
35.7
19.6
39.4
28.1
19.5
35.0
24.1
Energy & Minerals
2.2 8.7
0.2
3.0
12.5
6.7
67.3
8.6
124.1
13.4
19.7
84.5
26.9
2.5 4.6
0.3
4.6
1.8
3.5
3.9
7.1
3.1
4.1
2.6
3.7
3.8
1.1 1.9
1.6
3.1
2.0
1.9
1.5
2.8
1.5
1.8
1.2
3.7
8.6
Social Development
1.3 2.5
3.4
2.3
0.7
3.7
1.1
1.7
3.4
1.4
0.8
4.0
1.4
0.5 7.9
0.8
0.3
1.5
0.7
0.9
1.5
0.7
1.1
0.2
0.7
3.7
34.1 48.0
63.9
48.8
35.3
94.6
42.9
31.9
87.2
46.4
46.0
84.7
45.7
39.9 25.2
36.4
19.6
8.3
46.2
46.0
24.1
34.4
18.1
17.6
43.1
22.0
Parliament
11.0 25.3
9.7
16.9
13.8
20.0
22.8
23.9
15.1
43.1
21.8
33.7
10.6
34.8 41.6
33.2
38.3
48.1
51.7
43.0
49.4
50.5
57.7
73.1
56.7
59.6
Domestic Interest
29.1 36.8
31.9
33.3
37.8
35.7
37.4
43.0
41.4
46.8
53.2
49.3
54.8
External Interest
5.6 4.8
1.3
5.0
10.3
16.0
5.6
6.4
9.2
10.9
19.8
7.4
4.7
Total Centre
254.4 456.0 234.4 554.7 317.9 368.3 570.6 366.7 558.3 530.5 254.0 476.0 439.9
81.7 89.4
258.8
95.8
74.9
245.9
74.3
74.2
255.3
76.8
77.6
186.9
85.0
Total Interest
34.8 41.6
33.2
38.3
48.1
51.7
43.0
49.4
50.5
57.7
73.1
56.7
59.6
Grand total
370.8 587.0 526.4 688.9 441.0 665.9 687.9 490.3 864.1 665.0 404.7 719.6 584.5
Page 25
Pre Prel
Jun'12 Jul-Jun12
54.1
1002.6
79.5
811.8
25.2
257.8
70.5
1152.0
43.7
587.6
12.2
137.0
50.1
596.7
33.3
353.9
34.2
401.0
3.4
42.0
2.1
31.8
1.1
25.0
0.5
12.8
41.7
669.1
46.9
362.8
23.5
254.9
56.3
617.6
50.0
514.7
6.3
103.0
446.6 5117.9
77.9
1583.4
56.3
617.6
578.2 7316.4
Appendix 7: Salaries by National Budgetary Framework Sector Classifications in billion Shs, June 2012
Prov
Prov
Prov
Prel
Prel
Prel
Prel
Prel
Prel
Prel
Prel
Prel
Prel
May '11 Jun '11 Jul'11 Aug '11 Sep '11 Oct '11 Nov '11 Dec '11 Jan '12 Feb '12 Mar '12 Apr '12 May'12
Security
25.1
25.9
24.0
24.2
26.5
25.1
25.2
25.8
25.7
25.4
25.6
25.8
28.2
Roads & Works
1.8
2.3
1.6
1.9
1.8
1.6
2.0
1.8
1.9
2.1
1.8
2.0
2.0
Agriculture
1.9
3.4
0.4
4.1
2.3
0.7
3.9
2.4
0.6
3.8
0.5
0.6
0.5
Education
62.3
67.3
60.3
57.4
60.1
59.6
58.7
58.2
63.2
61.2
62.2
64.0
64.9
Health
16.8
18.0
16.3
16.7
17.4
16.8
17.8
17.4
17.2
17.3
16.9
17.8
17.7
Water & Environment
0.5
0.5
0.5
0.5
0.5
0.5
0.5
0.5
0.5
0.5
0.5
0.5
1.1
14.5
14.9
14.6
14.4
15.2
20.8
17.8
16.6
17.1
16.7
16.7
17.7
16.8
Accountability
1.6
3.5
9.2
7.3
7.5
9.0
7.6
7.4
9.2
7.5
7.3
9.5
7.7
Energy & Minerals
0.2
0.2
0.2
0.2
0.2
0.2
0.2
0.2
0.2
0.2
0.2
0.2
0.3
1.4
0.9
0.3
1.6
0.8
1.0
1.0
1.3
0.8
1.0
0.7
1.2
1.0
0.2
0.2
0.2
0.2
0.2
0.2
0.2
0.2
0.2
0.2
0.2
0.2
0.2
Social Development
0.2
0.2
0.1
0.1
0.1
0.1
0.1
0.1
0.1
0.2
0.1
0.1
0.2
0.4
0.4
0.1
0.1
0.1
0.0
0.1
0.1
0.1
0.1
0.1
0.1
3.7
10.6
10.6
10.8
11.4
12.0
12.1
12.1
12.3
12.2
12.2
12.3
12.3
15.7
2.9
3.2
2.8
2.9
2.9
2.8
3.1
3.0
3.0
3.2
3.0
3.3
3.3
Parliament
1.1
2.0
1.3
1.3
1.3
1.3
1.3
1.4
1.3
1.3
1.4
1.3
1.3
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
Domestic Interest
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
External Interest
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
Total Centre
63.4
69.2
70.5
70.9
73.9
76.4
77.3
74.5
74.8
76.2
71.8
76.3
80.6
77.8
84.3
72.1
73.4
74.9
75.3
74.3
74.2
78.6
76.8
77.6
80.2
84.0
Total Interest
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
Grand total
141.3 153.5 142.6 144.3 148.8 151.8 151.6 148.7 153.4 153.0 149.4 156.5 164.5
Page 26
Prel Prel
Jun'12 Jul-May'12
31.0
312.7
2.1
22.8
1.7
21.5
61.6
731.2
16.9
206.2
5.0
11.2
14.9
199.3
7.7
96.9
0.2
2.4
1.3
11.9
0.2
2.1
0.2
1.7
0.1
4.2
12.6
148.1
3.0
36.1
2.3
17.0
0.0
0.0
0.0
0.0
0.0
0.0
82.8
906.1
77.9
919.3
0.0
0.0
160.7 1,825.3
Appendix 8: Non-Wage recurrent Expenditures by National Budgetary Framework Sector Classifications in billion Shs, June 2012
Prov
Prov
May '11 Jun '11
Security
104.5
28.5
Roads & Works
56.8
10.1
Agriculture
0.6
2.6
Education
8.2
14.9
Health
19.6
67.8
Water & Environment
0.1
0.3
27.7
40.9
Accountability
17.6
19.5
Energy & Minerals
0.0
0.3
1.6
1.1
0.5
0.3
Social Development
0.9
0.7
0.6
1.2
29.9
13.3
33.3
17.1
Parliament
10.0
23.0
36.3
41.6
Domestic Interest
32.0
36.8
External Interest
4.2
4.8
Total Centre
308.8 236.5
3.2
5.0
Total Interest
36.3
41.6
Grand total
348.3 283.1
Prov
Jul'11
5.0
0.4
2.5
45.0
12.4
0.7
7.2
12.3
0.0
0.1
1.4
3.2
0.7
36.9
21.6
8.3
33.2
31.9
1.3
82.3
75.6
33.2
191.1
Prel
Prel
Prel
Prel
Prel
Prel
Aug '11 Sep '11 Oct '11 Nov '11 Dec '11 Jan '12
132.4
61.4
68.1
22.9
65.5
76.7
61.0
8.5
1.6
73.2
4.4
1.3
5.0
2.9
4.0
3.5
1.1
4.7
28.4
4.1
79.8
15.5
5.6
47.4
16.5
38.6
22.9
30.8
34.2
53.3
0.8
0.6
0.7
1.1
0.5
0.6
25.8
11.6
16.0
28.3
13.2
17.0
13.0
10.2
15.6
16.3
8.5
17.1
0.7
0.3
0.1
0.3
0.6
0.2
1.5
0.3
0.7
0.8
5.3
0.3
0.9
0.5
1.6
1.0
0.6
1.2
0.9
0.5
3.4
1.0
0.6
2.9
0.1
0.1
0.6
0.2
1.5
0.1
22.3
22.6
64.5
22.1
18.4
61.5
13.0
5.4
27.2
41.9
20.8
30.5
13.6
12.5
18.1
18.3
22.5
12.8
38.3
48.1
51.7
43.0
49.4
50.5
33.3
37.8
35.7
37.4
43.0
41.4
5.0
10.3
16.0
5.6
6.4
9.2
336.0 180.0 238.8 277.2 203.4 253.9
0.0
0.0
86.1
0.0
0.0
73.6
38.3
48.1
51.7
43.0
49.4
50.5
374.3 228.1 376.6 320.2 252.8 378.1
Prel
Prel
Prel
Prel
Prel
Prel
Feb'12 Mar '12 Apr '12 May '12 Jun'12 Jul-Jun'12
62.6
25.5
39.4
88.3
20.9
668.7
67.9
0.4
1.1
54.6
3.2
277.7
2.2
0.5
2.5
2.1
5.2
36.1
13.6
1.1
25.4
24.3
3.9
294.2
12.3
2.1
42.6
16.3
23.4
305.3
0.5
0.1
0.8
0.5
1.0
7.9
27.9
8.5
45.2
17.9
18.5
237.1
14.3
7.5
19.5
12.7
14.9
161.9
0.4
0.2
0.2
0.1
0.3
3.4
0.9
0.4
0.8
0.7
0.3
12.2
1.0
0.5
2.6
1.2
0.7
13.2
1.0
0.5
3.8
1.2
0.7
19.7
0.1
0.0
0.1
0.0
0.2
3.9
28.1
33.1
57.9
29.0
19.3
415.5
14.7
14.2
37.7
16.6
33.1
276.7
40.8
20.4
32.3
9.1
20.2
228.9
57.7
73.1
56.7
59.6
56.3
617.6
46.8
53.2
49.3
54.8
50.0
514.7
10.9
19.8
7.4
4.7
6.3
103.0
288.1 115.0 258.9 274.8 165.8 2674.1
0.0
0.0
52.9
0.0
0.0
288.2
57.7
73.1
56.7
59.6
56.3
617.6
345.8 188.0 368.6 334.4 222.1 3580.0

Page 27
Appendix 9: Domestic Development Expenditures in billion Shs, June 2012

Prov
Prov
Prov
Prel
Prel
Prel
Prel
Prel
Prel
Prel
Prel
Prel
Prel
Prel
Prel
May '11 Jun '11 Jul'11 Aug '11 Sep '11 Oct '11 Nov '11 Dec '11 Jan '12 Feb'12 Mar '12 Apr '12 May '12 Jun'12 Jul-May'12
Security
1.8
3.5
0.0
0.8
1.0
2.6
1.6
2.2
2.5
0.2
2.0
1.8
4.2
2.2
21.1
Roads & Works
66.8
21.9
45.8
64.1
22.6
9.4
67.3
27.8
59.4
80.6
29.1
22.4
8.9
74.2
511.4
Agriculture
22.5
31.3
43.7
2.2
6.0
18.8
8.9
5.7
76.1
8.2
1.2
5.0
6.1
18.3
200.2
Education
12.4
4.4
25.0
12.8
4.6
27.9
4.6
3.1
7.9
7.6
2.2
19.9
6.1
5.0
126.6
Health
5.4
11.4
16.1
6.3
0.5
15.0
2.5
1.0
12.0
1.6
1.4
11.7
4.6
3.4
76.2
Water & Environment
5.3
4.0
13.7
15.1
4.3
17.2
7.0
10.4
8.7
5.9
1.4
22.2
5.7
6.2
117.9
6.7
15.3
0.0
33.7
3.5
0.7
29.7
22.3
10.8
31.8
2.7
1.5
7.0
16.6
160.3
Accountability
5.1
9.0
20.0
7.6
5.1
2.5
11.8
3.6
13.1
6.4
4.7
6.0
3.7
10.7
95.1
Energy & Minerals
96.0
8.2
0.0
2.1
12.0
6.4
66.8
7.7
123.7
12.8
19.3
84.1
26.6
33.7
395.2
2.1
2.6
0.0
1.4
0.8
1.8
2.1
0.5
2.0
2.2
1.5
1.7
2.2
1.7
17.8
1.6
1.4
0.0
2.0
1.4
0.1
0.3
2.1
0.2
0.6
0.5
0.9
7.2
1.2
16.6
Social Development
0.2
1.7
0.0
1.3
0.1
0.1
0.0
0.9
0.3
0.2
0.1
0.0
0.1
0.3
3.5
0.4
6.4
0.0
0.2
1.4
0.1
0.6
0.0
0.5
0.9
0.1
0.5
0.1
0.2
4.7
1.3
24.2
16.2
15.1
0.8
18.1
8.7
1.2
13.5
6.1
0.6
14.6
1.0
9.8
105.6
2.6
4.9
12.1
3.7
0.1
16.2
1.0
0.3
0.9
0.1
0.5
2.2
2.0
10.8
49.9
Parliament
0.0
0.3
0.0
2.0
0.0
0.6
3.1
0.0
1.0
1.0
0.0
0.1
0.2
1.0
9.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
Domestic Interest
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
External Interest
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
Total Centre
227.2 150.3
81.6
147.8
64.1
53.0
216.1
88.9
229.6 166.2
67.2
140.7
84.5
198.0 1537.7
3.1
0.0
111.1
22.4
0.0
84.5
0.0
0.0
103.0
0.0
0.0
53.8
1.1
0.0
375.9
Total Interest
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
Grand total
230.3 150.3 192.7 170.2
64.1
137.5 216.1
88.9
332.6 166.2
67.2
194.6
85.6
195.4 1911.1
Page 28
Appendix 10: Donor Project Disbursements in billion Shs, June 2012

Prov
Prov
Prov
Prel
Prel
Prel
Prel
Prel
Prel
Prel
Prel
Prel
Prel
Prel
Prel
May '11 Jun '11 Jul'11 Aug '11 Sep '11 Oct '11 Nov '11 Dec '11 Jan '12 Feb'12 Mar'12 Apr'12 May'12 Jun'12 Jul-Apr'12
Security
19.80 28.85 15.97 12.51
5.35 12.47
2.86 25.52 12.80 12.31 14.39
18.76 47.12 180.05
Roads & Works
4.66
1.50 27.07 58.95 13.56 18.63
6.33 44.44
2.55 25.45 16.22 83.71
8.97 161.45 467.33
Agriculture
0.29 12.55
2.98
0.68
0.13
5.34
4.45 11.74
0.80
0.09
0.86 20.81
3.79
4.41
56.08
Education
3.60
1.02
1.17
1.61
3.59
5.21 24.59
1.27
2.02
1.77 15.84 14.17 56.45 127.69
Health
16.66 14.15
0.47
5.82
1.36
6.27 19.03 16.41
1.79 19.04 14.71
1.63
6.54 31.71 124.80
Water & Environment
0.06
2.46
0.85
4.46
0.76
1.61
1.99
2.53
0.83
0.79
2.20
2.69
0.51
4.88
24.11
0.67
0.92
0.17
0.07
0.03
0.16
0.20
0.05
0.03
0.71
Accountability
7.42
7.18
6.90
4.08 16.20 11.32 11.52
6.64
0.31
3.39
1.41
4.05
0.04 11.39
77.25
Energy & Minerals
16.11
9.54
4.11 16.56
3.38 19.89 25.34 30.57
4.95 10.58
9.42
3.39 25.64
4.65 158.48
0.15
0.19
4.94
0.47
0.02
0.40
0.05 11.70
0.07
0.37
2.99
21.22
2.11
0.56
0.33
3.00
Social Development
0.91
1.88
0.05
1.74
4.58
0.66
4.41
5.07
16.38 20.69 51.92 29.61
9.70
5.93 57.06 35.39 139.54 13.19
7.80 89.79
4.52 39.42 483.87
0.04
12.97
0.16
0.14
0.19
13.48
Parliament
0.02
0.01
0.04
Domestic Interest
External Interest
Total Centre
85.65 99.01 111.81 137.65 55.62 85.63 147.16 198.08 177.37 89.28 68.99 222.02 85.08 369.08 1,747.75
Total Interest
Grand total
85.65 99.01 111.81 137.65 55.62 85.63 147.16 198.08 177.37 89.28 68.99 222.02 85.08 369.08 1,747.75
Page 29

Performance of Uganda Economy Report June 2012

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Performance of Uganda Economy Report June 2012

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PERFORMANCE OF THE ECONOMY

MINISTRY OF FINANCE, PLANNING AND ECONOMIC

III. EXTERNAL SECTOR11

African Development Fund

Annual Gross Domestic Product

Direct Domestic Taxes

Electricity, Fuel and Utilities

European Investment Bank

Heavily Indebted Poor Countries

International Development Agency

International Development Bank

Indirect Domestic Taxes

International Fund for Agricultural Development

Millennium Development Goals

NUDEP Northern Uganda Development Enhancement program

Non Tax Revenues

Office of the Prime Minister

Poverty Action Fund

Peace Recovery and Development Programme

Quarterly Gross Domestic Product

Taxes on International Trade

ECONOMIC INDICATORS FOR JUNE 2012

Food versus Non Food Inflation

Contribution to Headline Inflation

food non food

Source: Uganda Bureau of Statistics

Inflation across CPI centres

Source: Uganda Bureau of Statistics

Fig 3: Annual Inflation, June2011 June2012

Source: Uganda Bureau of Statistics

Table 1: Monthly and Annual Inflation: June 2011 June 2012

June' 11 July' 11 Aug'11 Sep'11 Oct'11 Nov'11 Dec'11

Jan'12 Feb'12 Mar'12 Apr'12 May'12 June' 12

Source: Uganda Bureau of Statistics

Inflation in East African Community June 2012

Fig 5: Inflation Rates in the East African Region

Source: Compiled by Ministry of Finance, Planning and economic Development.

MONETARY AND FINANCIAL SECTOR

Government Securities and Interest Rates

Figure 6: Average TB Interest Rates, June 2011 - June 2012

Source: Bank of Uganda

Foreign Exchange Market

Source: Bank of Uganda

Source: Uganda Coffee Development Authority

Expenditure and Lending

Expenditure excl arrears

Wages and Salaries

Overall Fiscal Bal. (excl. Grants)

Overall Fiscal Bal. (incl. Grants)

Other Financing (Net)/1

o/w Bank Financing

/1 includes errrors and omissions

Source: Ministry of Finance Planning and Economic Development

PERFORMANCE OF THE RESOURCE ENVELOPE

Table 3: Performance of the Resource Envelope

Domestic resource mobilisation

External Debt financing net

Other financing (net) /2

/2 Includes domestic arrears repayments

Source: Uganda Revenue Authority

3.1 Direct Domestic Taxes (DDT)

Table 4: Overall Non Tax Revenue Collection-June 2012 (Billions, Shs)

Total Non Tax

Transport regulation fees