Tag Archives: economy

Harare, Zimbabwe | Xinhua | Zimbabwe’s economic activity remains robust, as evidenced by strong foreign currency receipts, Zimbabwean President Emmerson Mnangagwa has said. Writing in his weekly column Sunday in the state-run Sunday Mail newspaper on his reflections on the Reserve Bank’s 2023 Monetary Policy Statement, Mnangagwa said the country’s balance of …

Kampala, Uganda | THE INDEPENDENT | The petroleum marketing industry in Uganda experienced mixed fortunes over the last six months as the importation of diesel (AGO) significantly fell below that of petrol (PMS) as uncertainties in the economy continued. According to records at the Ministry of Energy and Mineral Development, and …

Kampala, Uganda | THE INDEPENDENT | During the debate and adoption of the National Budget Framework Paper for the Financial Year 2023/2024, Parliament instructed government to review the plausibility of some of the agencies created by government. The Deputy Speaker, Thomas Tayebwa, echoed a concern raised by the Member of Parliament …

London, UK | Xinhua | Three years after the United Kingdom’s (UK) departure from the European Union (EU), there is now a reasonable consensus that the effects of Brexit on the country’s economy have been negative, and public support for it has been decreasing, a scholar has said. “It’s more an …

United Nations | Xinhua | World output growth is projected to decelerate from an estimated 3.0 percent in 2022 to 1.9 percent in 2023, marking one of the lowest growth rates in recent decades, according to a UN report launched on Wednesday. The UN World Economic Situation and Prospects 2023 report …

Kampala, Uganda | THE INDEPENDENT | The National Social Security Fund-NSSF is on the way to achieving above the target set for the year 2022/2023, according to the Acting Managing Director, Patrick Ayota. The bright outlook is based on the performance over the last six months. The Fund’s records show that …

Davos, Switzerland | Xinhua | The global economy has regained steam after a difficult COVID-19 pandemic, but experts at the World Economic Forum (WEF) say a recovery is far from certain. Under the theme “Cooperation in a Fragmented World,” the WEF’s 2023 annual meeting concluded here on Friday. The gathering came …

Kampala, Uganda | THE INDEPENDENT | The International Monetary Fund, IMF, has approved the immediate disbursement of 240 million dollars (886 billion Shillings) under the Extended Credit Facility (ECF) arrangement. This follows the approval of the combined second and third reviews of Uganda’s performance under the arrangement, and this brings the total …

Nairobi, Kenya | Xinhua | The World Bank on Tuesday forecasted the sub-Saharan Africa (SSA) economy to slow to 3.6 percent in 2023 and rise to 3.9 percent in 2024. According to the World Bank’s latest Global Economic Prospects report, the growth was revised down for almost 60 percent of countries, …

London, UK | Xinhua | United Kingdom (UK) Prime Minister Rishi Sunak pledged to halve inflation and boost the country’s economy in his first major speech in 2023 on Wednesday. Sunak made five pledges. These are: to halve inflation; to grow the economy; to reduce national debt; to cut hospital waiting …