Tag Archives: economy

This comes as the economy continues to recover from the consequences of the Covid 19 pandemic, the Russia-Ukraine war, and the tightening of global financing conditions Kampala, Uganda |  THE INDEPENDENT | Uganda’s biggest bank, Stanbic Bank, has reported a 23.5% rise in the first-half profit after tax to Shs 200bn …

Cairo, Egypt | Xinhua | Egyptian President Abdel-Fattah al-Sisi said on Saturday that the government is formulating a plan to enhance domestic industrial production and reduce imports, with the goal of addressing the ongoing economic challenges in the nation. Sisi, also Egypt’s top military leader, made these remarks during his inspection …

Frankfurt, Germany | Xinhua | Germany’s economy, the largest in the European Union (EU), stagnated in the second quarter of 2023 with zero growth, according to Eurostat, the statistical office of the EU. The International Monetary Fund (IMF) has recently revised its forecast for the German economy in 2023 down …

PSST Ramathan Ggoobi wants timely execution of government programmes   Kampala, Uganda | JULIUS BUSINGE | Uganda’s Ministry of Finance Planning and Economic Development on July.18 released funds for the first quarter of FY2023/24 totalling Shs 4.8 trillion to meet the government expenditures. This represents 9% of the Shs 52.7 trillion …

Kampala, Uganda | THE INDEPENDENT | The government of Uganda and individuals at family levels have been cautioned against borrowing for the sake of impressing others. The cautionary call has been sounded by seasoned Makerere University Professor of Economics, Augustus Nuwagaba amidst concern about the increasing public debate. “It is …

Moscow, Russia | XINHUA | Russia’s economy is steadily recovering from the impact of sanctions and other challenges with a GDP growth of 0.6 percent in the first five months of this year, Russian Prime Minister Mikhail Mishustin said late on Tuesday. During a meeting with President Vladimir Putin, Mishustin said …

Per capita income increased to about US$930 for FY21/22, edging closer to the lower-middle-income threshold Kampala, Uganda | JULIUS BUSINGE | Uganda’s economic activity is accelerating despite commodity-price inflation, global monetary tightening, international supply-chain bottlenecks, and a local Ebola outbreak, according to the World Bank’s 21st Edition of the Uganda Economic …

Museveni also boasted about the country’s industrialisation exploits, with factories he said now standing at 226 and over 303 waiting to open Kampala, Uganda | THE INDEPENDENT | President Yoweri Museveni is content with the economy’s progress, which he said recovered from a nosedive during the COVID-19 pandemic, and is poised …

NEWS ANALYSIS | THE INDEPENDENT | Uganda’s debt stock has witnessed a significant surge over the past decade, primarily driven by the government’s intensified investment in infrastructure projects. This trend gained further momentum in the fiscal year 2020/2021 during the COVID-19 pandemic. The total national debt, (domestic and external) increased …

New York, US | Xinhua | External intervention or unilateral sanctions will not solve the problems in Central Africa, said a Chinese envoy on Monday. The ongoing situation across multiple African countries proves that solutions to African issues must be found from within. The vigorous efforts by the Central African …