uganda economy

Privatization policy responsible for economic crisis

Makarere university professor Augustus Nuwagaba has criticized government for failing to listen to their advice against selling public companies through the liberalization program. According to Nuwagaba, the economists warned of severe long term effects arising from this policy but government 20 years ago chose to continue with privatisation. He told a public lecture on economic […]

Uganda sugarcane technologies association explains shortages

Sugar producers under their umbrella body Uganda sugarcane technologies association are attributing the current sugar shortage and high prices to external and internal factors. Speaking to journalists at Uganda Journalist Association (UJA) offices in Kampala, the chairman of the association, Mwine Jim Kabeho says, changes in climate in number one producing countries like Brazil, instabilities in countries […]

Members of Parliament not happy about government handling of the economy

Members of parliament have vehemently criticized government’s approach to the current economic crisis the country is facing. Lawmakers including Theodore Sekikubo, Vicent Kyamadidi, Wilfred Nuwagaba, Mohammed  Nsereko and Henry Musasizi say that scrapping off sugar is not enough  to rescue Ugandans from the current crisis. The criticisms come only a day after President Museveni meet with the […]

Government to monitor sugar prices for six months

The state minister for finance, Fred Omach has revealed that the  cabinet meeting resolution of slashing taxes on imported sugar by 100% is to stay for only six (6) months as govt monitors the situation. Addressing reporters today in Kampala, Omach states that they will keep a close watch on how prices for sugar will move but notes that the current […]

MPs urge government to set price ceiling for essential commodities

Members of Parliament are urging government to put a price ceiling on all basic commodities. The call comes following announcement by government to reduce taxes on sugar imports by 100%. Addressing journalists at Parliament today, the Kampala Central MP, Nsereko Mohammed said it is not enough to cut taxes but this should be extended to […]

Central Bank increases lending rate to 14% as a monetary tool

The central bank governor, Prof. Emmanuel Mutebire has today announced a 1% increment in the central bank lending rate which now moves the rate from 13% to 14% this month with the aim of cracking down on the growing inflation in the country. The CBR rate is a tool used by central bank to control inflation but the governor says he will continue […]

Ugandan consumers association to protest against high cost of living

The Uganda consumers’ protection awareness association (UCPAA) has threatened to stage a national wide demonstration in protest against the increasing cost f living in the country. Addressing a news conference in Kampala, the group’s chairman Mulwanyi Taminwa said the demonstrations that will kick off on Thursday next week is meant to show their discontent over […]

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