Kampala, Uganda | THE INDEPENDENT | The government has embarked on an ambitious strategy of growing the economy tenfold from USD 49.5 billion as of FY 2023/2024 to USD 500 billion in the next 15 years. The NDPIV is the fourth out of the six National Development Plans for Uganda Vision …
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Kampala, Uganda | THE INDEPENDENT | Uganda’s economy is quite robust after weathering through several shocks in recent years, say top economists from the Africa Development Bank Group (AFDB). While there has been concern about the increase in domestic and foreign debts, economists suggest that the Ministry of Finance and the …
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KAMPALA, Uganda | Xinhua | Uganda’s Finance Minister Matia Kasaija on Thursday said the East African country’s economy will grow by 7 percent in the fiscal year (FY) 2024/2025, which will start on July 1. The growth will be driven through increased oil and gas activities, growth in exports, increase …
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Lusaka, Zambia | Xinhua | Zambian President Hakainde Hichilema has urged African countries to invest more in digitalization in order to accelerate economic development. The Zambian president said on Thursday that accelerating economic growth through technology will help African countries develop faster, a situation that will boost trade, create jobs, and …
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Kampala, Uganda | THE INDEPENDENT | The Bank of Uganda (BoU), Uganda’s central bank, on Monday left the Central Bank Rate (CBR) at 10 percent for the second time, saying it is still effective to control the rise in inflation, bring stability in lending rate, exchange rate and drive economic growth. …
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Geneva, Switzerland | Xinhua | The severe inflationary crisis combined with a global slowdown in economic growth are causing a striking fall in real monthly wages in many countries, reducing the purchasing power of the middle classes and hitting low-income households particularly hard, the International Labour Organization (ILO) said on Wednesday. …
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Uganda’s real GDP expanded 4.9% y/y in Q2 22, marginally weaker than the prior quarter’s 5.1%, following a marked moderation in import taxes. The pace of growth is anticipated to slow in H2 2022 as households navigate a higher inflation and lending rates environment. Economic growth will average about 4.3% …
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Why government policy to control inflation at 5% under whatever circumstances is misguided THE LAST WORD | ANDREW M. MWENDA | A fetish is an inanimate object (like a small stone or wood curving of something like an animal) that is worshipped for its supposed magical powers. That is what …
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Nairobi, Kenya | Xinhua | Kenyan President William Ruto on Thursday pledged to contain large domestic and foreign borrowing by the government within three years to help spur economic growth. Ruto who officially opened the 13th Parliament said the very large government borrowing requirement has undermined the business sector’s contribution to …
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Frankfurt, Germany | Xinhua | The Euro on Wednesday briefly slipped below parity against the U.S. dollar in intraday trading after data released by the U.S. Department of Labor showed that the Consumer Price Index (CPI) surged 9.1 percent from a year ago in June. The exchange rate on Wednesday plunged …
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The Independent Uganda: You get the Truth we Pay the Price