Kasaija defends borrowing Shs700 bill to pay salaries

Kasaija defends borrowing Shs700 bill to pay salaries
Eazzy Banking

Finance Minister Matia Kasaija has defended reports that government is planning to borrow Shs700 billion to cater for salaries.

Describing the media reports as exaggerated, minister Kasaija explained that only Shs 48 billion of the Shs 736 billion loan request to Parliament is for salaries.

He says the borrowing was necessitated by a revenue shortfall.

The Minister was speaking at a media briefing to update the public on cabinet decisions.

Kasaija also assured the public that the loan will have no impact on the private sector.

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