Ministry of Finance, Planning and Economic Development is a Government Ministry which plays an important role to ensure mobilization of public resources for the whole Government.
The Ministry commonly known as Ministry of Finance is further charged to oversee how these resources are accounted for as they target to benefit all Ugandans.
The Ministry is also concerned with matters of achieving the fastest rate of economic transformation alongside emerging economies. It targets to formulate sound economic policies that lead to sustainable economic growth and development.
The ministry is organized with Directorates of Budget, Economic Affairs, Accountant General’s Office and departments of Finance and Administration.
Ministry of Finance is mandated to:
• Develop and monitor appropriate policies and strategies that guide annual and medium term expenditure
• Prepare the Annual National Budget and medium term expenditure allocations
• Formulate, review and appraise projects and programs in liaison with line Ministries and Institutions
• Review and update of the Public Investment Plan
• Execute and monitor the annual National Budget
• Coordinate releases of funds for both recurrent and development activities in Central and Local Governments
• Formulate tax policies aimed at generating domestic revenue for Government expenditure
• Develop appropriate fiscal and monetary policies
• Prepare of medium and long term development plans in association with The National Planning Authority
• Coordinate policies that promote institutional capacity and development of the public and private sector
• Mobilize domestic and external resources
• Formulate strategies for appropriate external and internal public debt management
• Facilitate trade and Regional integration initiatives within the East African Community, and the COMESA region
• Harmonize and monitor the National Public Procurement Policy with International and Regional Organizations’ Procurement and Trade Policy Agreements
• Produce timely, accurate and reliable financial management information that meets professional standards and conforms to internationally accepted best practices
• Oversee and implement the Integrated Financial Management System (IFMS)
• Ensure appropriateness of internal control systems and internal audit functions throughout Government
• Provide overall framework for control of public resources and expenditure
• Ensure that Accounting Officers observe the PFAA 2003 and associated Financial Regulations
• Set standards for professionalism for Accounts Cadres in Government
• Ensure provision is made for the security of Government’s financial and non-financial assets
• Maintain a register of public debt
• Manage fiscal data for Government Departments and Agencies
• Provide information technology related finance support services to Government Ministries and Agencies
• Carry out financial transaction processing and reporting
Minister of Finance, Planning and Economic Development Ms. Maria Kiwanuka is responsible for providing political leadership to this Ministry.