By Francis Lubega

7th June 2023

Uganda’s economy is projected to grow at 5.5% in the coming financial year 2023/2024 from the current 4.7%.

This has been revealed by President Yoweri Museveni as he delivered the State of the Nation Address at Kololo ceremonial ground.

He further noted that in the next 5 years, economic growth will grow much higher at an expected rate of 6.5 – 7% per year.

Museveni attributed the improvement in the economic growth to economic stability, establishment of more factories, support to small and medium enterprises, and increase in oil activities among other factors.

Uganda’s economy grew by 6.8% in the first half of the 2022/23 (July 1-June 30) fiscal year, according to a release published by the Ministry of Finance in April this year.

Earlier, the Leader of Opposition in Parliament, Mathias Mpuuga directed the Opposition MPs to boycott the State of the Nation Address at Kololo.

Mpuuga noted that they couldn’t be part of the resource wastage by the regime yet Ugandans continue to suffer.

Mpuuga says that the Government spends close to Sh3 Billion whenever there’s an official event to be attended by President Museveni like the State of the Nation Address and next week’s budget reading event.

He advised Museveni to take a booster dose, exercise social distancing and utilize zoom technology instead of wasting taxpayers’ money in testing people to attend his gatherings.


Wednesday 7th June 2023 05:47:33 PM