Players task government to walk the talk at 13th national competitiveness forum Kampala, Uganda | JULIUS BUSINGE | Private sector players have asked government to walk the talk while promising to boost private sector activities that drive overall growth of the economy. The call was made by multiple speakers at the …
Read More »URA urged to sensitise traders on new tax system
Kampala, Uganda | THE INDEPENDENT | Parliament calls for sensitization of traders before the full implementation of the Electronic Fiscal Receipting and Invoicing System (EFRIS). The House chaired by Deputy Speaker, Thomas Tayebwa on Wednesday, 07 December 2022 adopted the report of the Committee on Tourism, Trade and Industries recommending changes in …
Read More »Small African economies industrialising fastest
Smaller African countries are punching beyond their weight to diversify their economies from agricultural dependence, a new report shows. Nairobi, Kenya | BIRD AGENCY | A new report shows that value-add factories and public-private partnership are helping small African countries industrialize much faster than their larger peers. The recently …
Read More »Disastrous U.S. policies weigh on world economy
Beijing, China | Xinhua | The U.S. Federal Reserve announced earlier this month the fourth consecutive three-quarter point interest rate hike to cool record levels of inflation, another aggressive move leaving economists fearing a recession ahead. The Fed has committed to hawkish rate hikes to fight inflation while standing by as …
Read More »Ugandans survived the COVID-19 lockdown but might not live through the current financial one
COMMENT | Alfred Geresom Musamali | It was tough going through the two years of lockdown resulting from the Corona Virus Disease 2019 (COVID-19) pandemic in Uganda. But some households that survived the lockdown may not live through the prevailing financial one in the country. During some of that time, movement …
Read More »Opposition maintains concern on economy, demands answers
Kampala, Uganda | THE INDEPENDENT | The Speaker of Parliament, Anita Among, has proposed a meeting between the Leader of the Opposition (LoP), Mathias Mpuuga, and Finance State Minister (Privatisation and Investment) Evelyn Anite, after an unsatisfactory response to the LoP’s concerns on government’s failure to meet its financial obligations. In a …
Read More »Further borrowing will constrain development efforts: BOU
Kampala, Uganda | THE INDEPENDENT | The Deputy Governor of the Bank of Uganda, Michael Atingi-Ego has told parliament that the country’s public debt has now hit 80 trillion Shillings. He says that Uganda’s debt servicing in the current financial year 2022/2023, is at a ratio of tax revenue estimated at …
Read More »EU officials warn of economic slowdown
Brussels, Belgium | Xinhua | The European economy is slowing down and a contraction is predicted at least for the winter months due to the energy crisis and high inflation, European Commissioner for Economy Paolo Gentiloni warned on Monday. “If we look at high-frequency indicators and the economic sentiment, we see …
Read More »Uganda grapples with soaring inflation amid persistent global uncertainties
Kampala, Uganda | Xinhua | Uganda is grappling with double-digit inflation as spillover effects of the global economic decline filter through the domestic economy, the country’s central bank, Bank of Uganda (BOU) has said. Domestic inflation hit double digits for the first time in a decade, rising to 10 percent in …
Read More »IMF confident that Uganda, Rwanda economies to grow faster next year
Kigali, Rwanda | THE INDEPENDENT | Rwanda and Uganda will lead East African Community’s growth next year, but the International Monetary Fund warns of tough times ahead. The tough times are being projected as a result of the tightening of economic policies, especially by the US whose Central Bank, the …
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