KAMPALA, June 13 (Reuters) - Uganda plans to raise its spending by 23% in 2019/20 (July-June) to 40.1 trillion shillings, and its fiscal deficit will rise, its finance minister said on Thursday in his budget speech.
Matia Kasaija said in parliament the 2019/2020 fiscal deficit will be 8.7% of GDP, up from 5.8% in this fiscal year, which ends this month.
He said the government will borrow 2.8 trillion shillings from domestic markets in 2019/20 up from 2.2 trillion shillings in 2018/19. External financing will be 10.11 trillion shillings, but he did not say how much of this will be borrowed. (Reporting by Elias Birayabarema; Writing by George Obulutsa)