A recent Poverty Status Report released by Uganda’s Ministry of Finance Planning and Economic Development indicates that poverty levels among Ugandans have continued to decline, a trend that gives hope that the country’s economy will continue to grow.
According to the 100 page report titled reducing vulnerability, equalising opportunities and transforming livelihoods, the country’s poverty levels have been on the downward trend since 1992 except in 2002/03 when a survey indicated that poverty levels had gone up. The number of those (people) who are absolutely poor stood at 9.9 million (56.4%) in 1992/93, the number reduced to 7.4million (33.8%) in 1999/2000, the number however went up slightly to 9.3million (38.8%) in 2002/03 but then it (number) reduced to 8.5million (31%) in 2005/06 and now the number has slowed to 7.5million (24.5%) in 2009/10.
Speaking at the official launch of the report at Hotel Africana in Kampala on May 8, Finance Minister Maria Kiwanuka said the reduction in the poverty levels was partly attributed to the reduction in the number of households relying mainly on subsistence agriculture. “There is an emerging group of Ugandans that can now be classified as being the middle class,” she said.
Kiwanuka said the new middle class are relatively secure and they have the ability to invest in a brighter future for their children and for Uganda. “They will drive faster economic growth, helping to pull up those currently remaining in poverty,” she added.
written by boob man, May 21, 2013