How the Uganda budget resource for FY2025/26 are allocated 1⃣ Wages & Salaries – Shs 8.57 trillion 2⃣ Non-Wage Recurrent Expenditure—Shs 28.33 trillion (includes operations, wealth creation funds, science & tech, education & health grants, medicines, infrastructure maintenance, and interest payments) 3⃣ Development Expenditure – Shs 18.24 trillion 4⃣ Domestic …
Read More »EAC central banks project 5.8% regional economic growth in 2025
NAIROBI, | Xinhua | Central banks of the East African Community (EAC) member states on Friday projected regional economic growth at 5.8 percent in 2025. Kamau Thugge, governor of the Central Bank of Kenya and chairperson of the EAC Monetary Affairs Committee, said the growth outlook will be supported by …
Read More »How Watu is unlocking economic growth and green mobility
Kampala, Uganda | THE INDEPENDENT | Musa Lukwago, a resident of Kyengera on the outskirts of Kampala, started his delivery business in 2016. For a while, business was good—until he began receiving orders that required him to have a reliable means of transport. Determined to meet customer demand, Musa set …
Read More »Promoting Private Sector Growth: UDB’s role in unlocking economic opportunities for Ugandans
OPINION | Bob Twinomugisha | As we reflect on 62 years of Uganda’s independence, this year’s celebration theme—”A Re- commitment to Secure and Fortify Our Destiny”—is a rallying call to our people to renew our dedication to building an inclusive and prosperous future. The Uganda Development Bank (UDB) has been central to …
Read More »Inside the government’s ten-fold growth strategy
Kampala, Uganda | THE INDEPENDENT | The government has embarked on an ambitious strategy of growing the economy tenfold from USD 49.5 billion as of FY 2023/2024 to USD 500 billion in the next 15 years. The NDPIV is the fourth out of the six National Development Plans for Uganda Vision …
Read More »AfDB Report: Uganda’s economic growth to be propelled by oil, gas investments
Kampala, Uganda | THE INDEPENDENT | Uganda’s economy is quite robust after weathering through several shocks in recent years, say top economists from the Africa Development Bank Group (AFDB). While there has been concern about the increase in domestic and foreign debts, economists suggest that the Ministry of Finance and the …
Read More »Uganda aims for higher economic growth in 2024/2025 fiscal year
KAMPALA, Uganda | Xinhua | Uganda’s Finance Minister Matia Kasaija on Thursday said the East African country’s economy will grow by 7 percent in the fiscal year (FY) 2024/2025, which will start on July 1. The growth will be driven through increased oil and gas activities, growth in exports, increase …
Read More »Zambian president urges African countries to invest in digitalization for faster economic growth
Lusaka, Zambia | Xinhua | Zambian President Hakainde Hichilema has urged African countries to invest more in digitalization in order to accelerate economic development. The Zambian president said on Thursday that accelerating economic growth through technology will help African countries develop faster, a situation that will boost trade, create jobs, and …
Read More »Central bank maintains benchmark rate at 10 percent
Kampala, Uganda | THE INDEPENDENT | The Bank of Uganda (BoU), Uganda’s central bank, on Monday left the Central Bank Rate (CBR) at 10 percent for the second time, saying it is still effective to control the rise in inflation, bring stability in lending rate, exchange rate and drive economic growth. …
Read More »ILO notes “striking fall” in real wages worldwide
Geneva, Switzerland | Xinhua | The severe inflationary crisis combined with a global slowdown in economic growth are causing a striking fall in real monthly wages in many countries, reducing the purchasing power of the middle classes and hitting low-income households particularly hard, the International Labour Organization (ILO) said on Wednesday. …
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