Tag Archives: economy

Washington, U.S. | Xinhua | This week marks one year since U.S. President Joe Biden took office, with plummeting approval ratings and unresolved key priorities. A year ago when Biden spoke to a divided nation, weeks after the U.S. Capitol riot, he said he would bring back unity and do “great …

Washington, U.S. | Xinhua | U.S. President Joe Biden on Wednesday pledged to “get inflation under control” as American voters were increasingly pessimistic about the economy and doubted his ability to fix supply chain issues and tackle soaring prices. “COVID-19 has created a lot of economic complications, including rapid price increases …

Kampala, Uganda | THE INDEPENDENT | Members of Parliament on the Finance Committee have questioned officials from the Ministry of Finance, Planning, and Economic Development over the skyrocketing fuel prices across the country. Fuel prices have been rising sharply since early last year but since the beginning of this month, they have …

Kampala, Uganda | THE INDEPENDENT | The Ministry of Information, Communication, Technology and National Guidance is seeking Shs70.6 billion to implement the Parish Development Model (PDM). Cabinet approved the implementation of PDM as the delivery strategy for transitioning households out of the subsistence economy with effect from 01 July 2021. The ICT …

Rise in imports, commodity prices, COVID-19 variant could impact recovery Kampala, Uganda | JULIUS BUSINGE | Uganda’s economy underperformed in 2020 as coronavirus pandemic lockdown took toll on economic activities. The economy is projected to grow by 3.5-3.8% in the FY2021/22 and 5.5-6.0% in FY2022/23, before increasing to 6.5-7.5% in …

Washington, U.S. | Xinhua | While U.S. President Joe Biden has vowed to keep businesses and schools open, some experts wonder if that’s possible given the high infectious nature of Omicron and the lack of adequate measures to combat it, The Guardian said in a recent report. “The economy cannot stay …

Kampala, Uganda | THE INDEPENDENT | The Deputy Governor Bank of Uganda, Michael Atingi-Ego has called for better planning for emergencies so that pandemics can have minimal impact. Atingi-Ego noted the need for reduction in spending on non-priority areas, postponement of capital intensive and import-dependent projects to help improve external balance …

New Delhi, India | Xinhua |  Indian economy is estimated to grow at 9.2 percent in the current financial year 2021-22, compared to a contraction of 7.3 percent in the previous year, government data showed on Friday. The increase is attributed mainly to the better performance of the agricultural and …

Khartoum, Sudan | Xinhua | The impact of the resignation of Sudanese Prime Minister Abdalla Hamdok will spill over from politics to the country’s already fragile economic situation, Sudanese economic analysts said on Tuesday. In an obvious sign, after months of recovery and stability, the exchange rates of the Sudanese pound …

Frankfurt, Germany | Xinhua | The euro, a currency shared by 19 European countries, has won overwhelming support among the 340 million Europeans since it went into circulation 20 years ago. The idea of a single currency for Europe, which originated in 1970 when policy makers in Europe hoped to achieve …