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Tag Archives: economy

IMF revises Uganda GDP growth from 5% to 3.5%

The International Monetary Fund (IMF) expects Uganda’s gross domestic product growth to record anywhere between 3.5%-4% in FY2016/17, lower than 5% that had earlier been projected. This was announced on Tuesday by Axel Schimmelpfennig, the head of IMF mission that visited Kampala, Uganda from May 2-15, 2017 to conduct the …

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Tumusiime: When is Uganda allocating 10% budget to agriculture?

Former African Union Commissioner Tumusiime roots for increased agricultural funding as she launches her autobiography Former African Union (AU) Commissioner Rhoda Peace Tumusiime has demanded that Uganda’s finance ministry explains why the agricultural sector is underfunded. “When are you making the 10 percent budget allocation to agriculture? This is a decision at a …

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Petrol shortages expose Burundi’s economic woes

Nairobi, Kenya | AFP | A lack of foreign currency means petrol pumps are running dry across Burundi, the government has admitted, as the country struggles with a serious two-year-old political crisis. Long queues have been quickly forming in the capital Bujumbura where petrol is only available at some of …

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Libyan oil production now more than 760,000 bpd

Tripoli, Libya | AFP |  Libya’s oil production, the country’s main source of revenue, rose Monday to more than 760,000 barrels per day for the first time since 2014, the National Oil Corporation said. Oil is Libya’s main natural resource, with reserves estimated at 48 billion barrels, the largest in …

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US ready to talk to North Korea

US seeks talks with North Korea to solve nuke issue Washington, United States | AFP | The United States is not ruling out direct dialogue with North Korea on its nuclear program, Secretary of State Rex Tillerson said in an interview with National Public Radio. “Obviously, that would be the …

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