Jerusalem, Israel | Xinhua | Israel’s gross domestic product (GDP) increased by 8.1 percent in 2021, the highest annual growth in 21 years, according to a report released by the Israeli Central Bureau of Statistics on Wednesday. The country’s GDP increased by 3.6 percent in 2019, and decreased by 2.2 …
Read More »On 36 years of Museveni
Why his stabilising the political dispensation and sustaining economic growth is important THE LAST WORD | ANDREW M. MWENDA | On January 26, President Yoweri Museveni and NRM will mark 36 years in power. His is third longest serving presidency in Africa today, and one of the longest in the …
Read More »Uganda’s total debt stock rises to UGX 67 Trillion: Central bank
Kampala, Uganda | THE INDEPENDENT | Uganda’s total debt stock grew to 67.4 trillion Shillings by the end of the financial year 2020/21 in June, according to the Bank of Uganda. This shows a debt to GDP ratio of 45.5 percent, in contrast to earlier estimates of almost 50 percent, which …
Read More »Uganda’s debt hits 50 percent of GDP as CSOs call for debt cancellation
Debt repayment and payment of interest should be channeled from tax revenues Kampala, Uganda | THE INDEPENDENT | The government remains adamant about the debt burden on the country despite now having exceeded the dreaded level of 50% of the value of the economy (GDP), according to the latest records. The …
Read More »World Bank projects global economy to grow by 4 pct in 2021 with widespread vaccination
Washington, U.S. | Xinhua | The global economy is on track to grow by 4 percent in 2021, assuming vaccination for COVID-19 becomes widespread throughout the year, the World Bank Group said in its latest Global Economic Prospects released on Tuesday. “The global economy appears to be emerging from one of …
Read More »Singapore’s GDP contracts by 5.8 pct in 2020
Singapore, Republic of Singapore | THE INDEPENDENT | Singapore’s Ministry of Trade and Industry announced on Monday morning that based on advance estimates, the country’s gross domestic product (GDP) for the whole of 2020 fell by 5.8 percent year on year, compared to the 0.7 percent growth in 2019. For …
Read More »New Google-IFC report estimates Africa’s Internet economy to be $180 billion in next five years
Johannesburg, South Africa | THE INDEPENDENT | The e-Conomy Africa 2020 report released today by Google and the International Finance Corporation (IFC), estimates that increased access to faster and better quality internet, and Africa’s commitment to creating the world’s largest single market under the African Continental Free Trade Area, …
Read More »Developing countries need relief from rising debt burden amid COVID-19
New York, US | XINHUA | Developing countries need external support to ease inflated debt burden caused by the COVID-19 pandemic so as to maintain social services and secure global economic recovery, according to experts and relevant institutions. RECOVERY TAKES TIME Economic output picked up swiftly following the easing of …
Read More »Pensions sector prepares for entry of Public Service Scheme
Retirement benefits sector marks improved efficiency, reduced operational costs Kampala, Uganda | THE INDEPENDENT | The retirements benefits sector is set to get a boost of close to 400,000 new members once the proposed Public Service Pension Scheme starts operating. The Uganda Retirement Benefits Regulatory Authority (URBRA) is optimistic the …
Read More »AU says COVID-19 pandemic amplifies Africa’s need to expand resource mobilization base
Addis Ababa, Ethiopia | XINHUA | The African Union (AU) Commission on Wednesday said that the ongoing COVID-19 pandemic has amplified Africa’s need to expand resource mobilization base. “Already African countries are reporting a reduction in tax revenues, especially from the non-digitalized sectors. The decline in the prices and demand …
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