Tag Archives: economy

NEWS ANALYSIS | THE INDEPENDENT | Uganda’s Sh48.13 trillion National Budget has been approved by Parliament today. The approved budget has increased by sh5 trillion from the current financial year budget. Over half of this money is expected to come from domestic revenue collection with Government targeting  a collection of …

United Nations | Xinhua | The global economy is predicted to expand by only 3.1 percent this year, down from the 4.0 percent projected in January, largely due to Russia’s special military operation in Ukraine, according to UN’s latest World Economic Situation and Prospects (WESP) report, launched on Wednesday. As the …

Nine out of the 26 commercial banks register a decline in profits in 2021 Kampala, Uganda | THE INDEPENDENT | Nine out of the 26 registered commercial banks in Uganda registered a decline in profits in 2021, compared to the previous year. Over the same period, eight banks registered a …

Kampala, Uganda | THE INDEPENDENT | Officials from Bank of Uganda and the National Planning Authority (NPA) have told Members of Parliament that the state of the economy is struggling because of global related factors. The officials were interfacing with the Committee on National Economy to discuss the state of the …

Kampala, Uganda | THE INDEPENDENT | Economic justice activists are worried that the anticipated intentions of the Parish Development Model-PDM may not be fully realized if women are not allowed equal or even higher stakes in its implementation. The program is a new strategy designed to improve household incomes and lift …

Kampala, Uganda | THE INDEPENDENT | The government is rallying commercial banks and other financial institutions to help it increase tax revenues by ensuring more people are taxed. As the presentation of the 2022/23 national budget draws closer, the Uganda Revenue Authority figures show an uphill task if the agency is to …

Brussels, Belgium | Xinhua | The European Union (EU) will phase out Russian crude oil within six months and refined products by the end of the year, European Commission President Ursula von der Leyen said Wednesday, announcing the sixth package of sanctions against Russia. “We now propose a ban on Russian …

Kampala, Uganda | THE INDEPENDENT | Members of Parliament on the Budget Committee have queried the government’s preparedness to implement the Parish Development Model (PDM). The MPs think that the apparent strategy to promote increased incomes intended to alleviate communities from poverty, is ‘ill-prepared’ and could go to waste if the …

Khartoum, Sudan | Xinhua | A delegation comprised of officials from France, Germany, Norway, the United Kingdom, the United States, and the European Union on Friday called on Sudanese authorities to end the state of emergency. In a statement issued after a visit to Khartoum, the delegation called for immediate progress …

Mumbai, India | Xinhua | India will take over a decade, or around 15 years, to overcome the losses incurred during the COVID-19 pandemic despite its economic growth rebounding from a low-base, the country’s central bank said in a report on Friday. The monetary losses estimated by the Reserve Bank …