Uganda People’s Congress (UPC) President Jimmy Akena has downplayed President Yoweri Museveni’s recent claims about Uganda’s economic progress, saying the realities faced by ordinary citizens tells a different story.
Speaking at the party headquarters in Kampala, Akena responded to the president’s remarks made during last week’s Budget Speech at Kololo, where Museveni stated that Uganda’s economy has grown to USD 61 billion by the exchange rate method and USD 174 billion by purchasing power parity.
The president noted that this is nearly 20 times larger than the GDP in 1986 when the National Resistance Movement (NRM) came to power.
However, Akena argued that it is disingenuous to boast about economic growth while many Ugandans continue to grapple with poverty and high living costs.
He pointed to the current exchange rate, where one U.S. dollar is equivalent to around UGX 3,700, as a clear sign that the Ugandan shilling has significantly depreciated, further burdening the population.
In a related development, Akena said the UPC is actively preparing its candidates for the upcoming general elections, starting with the nationwide youth elections scheduled for Thursday.
By Charles Katabalwa
18th June 2025
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