Companies remain optimistic about future output growth Kampala, Uganda | JULIUS BUSINGE | The monthly Stanbic Purchasing Managers’ Index (PMI) for Uganda dipped slightly in August, falling from 53.9 in July to 51.6, as businesses grappled with the implications of the World Bank’s suspension of further loans to the country. However, …
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New Delhi, India | Xinhua | The Group of 20 (G20) should refocus on improving global economic governance and tackling development issues to boost confidence in the world’s economic recovery, said experts, as the G20 summit kicks off in New Delhi on Saturday. The experts said that leaders of the world’s …
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Berlin, Germany | Xinhua | The real gross domestic product (GDP) of Germany, Europe’s largest economy, is projected to shrink by up to 0.5 percent in 2023, the German Economic Institute (IW) said on Tuesday. The drop is driven by high inflation and interest rates as well as by problems …
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This comes as the economy continues to recover from the consequences of the Covid 19 pandemic, the Russia-Ukraine war, and the tightening of global financing conditions Kampala, Uganda | THE INDEPENDENT | Uganda’s biggest bank, Stanbic Bank, has reported a 23.5% rise in the first-half profit after tax to Shs 200bn …
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Cairo, Egypt | Xinhua | Egyptian President Abdel-Fattah al-Sisi said on Saturday that the government is formulating a plan to enhance domestic industrial production and reduce imports, with the goal of addressing the ongoing economic challenges in the nation. Sisi, also Egypt’s top military leader, made these remarks during his inspection …
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Frankfurt, Germany | Xinhua | Germany’s economy, the largest in the European Union (EU), stagnated in the second quarter of 2023 with zero growth, according to Eurostat, the statistical office of the EU. The International Monetary Fund (IMF) has recently revised its forecast for the German economy in 2023 down …
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PSST Ramathan Ggoobi wants timely execution of government programmes Kampala, Uganda | JULIUS BUSINGE | Uganda’s Ministry of Finance Planning and Economic Development on July.18 released funds for the first quarter of FY2023/24 totalling Shs 4.8 trillion to meet the government expenditures. This represents 9% of the Shs 52.7 trillion …
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Kampala, Uganda | THE INDEPENDENT | The government of Uganda and individuals at family levels have been cautioned against borrowing for the sake of impressing others. The cautionary call has been sounded by seasoned Makerere University Professor of Economics, Augustus Nuwagaba amidst concern about the increasing public debate. “It is …
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Moscow, Russia | XINHUA | Russia’s economy is steadily recovering from the impact of sanctions and other challenges with a GDP growth of 0.6 percent in the first five months of this year, Russian Prime Minister Mikhail Mishustin said late on Tuesday. During a meeting with President Vladimir Putin, Mishustin said …
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Per capita income increased to about US$930 for FY21/22, edging closer to the lower-middle-income threshold Kampala, Uganda | JULIUS BUSINGE | Uganda’s economic activity is accelerating despite commodity-price inflation, global monetary tightening, international supply-chain bottlenecks, and a local Ebola outbreak, according to the World Bank’s 21st Edition of the Uganda Economic …
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