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Tag Archives: economy

CSBAG urges govt on 2022/23 budget

  Kampala, Uganda | THE INDEPENDENT | Civil Society Budget Advocacy Group has commended the government for putting together a pro-people 2022/23 budget, but has outlined areas that it wants prioritised so as to achieve tangible results. Speaking at a post-budget event held in Kampala on June 23, Julius Mukunda, …

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South Sudan launches dev’t strategy to consolidate peace

Juba, South Sudan | Xinhua | South Sudan on Tuesday launched a revised National Development Strategy (NDS) Plan for 2021-2024 aimed at consolidating peace gains and helping revive the war-battered economy. Riek Machar, the First Vice President who presided over the launch, said the plan is a guide for collective investments meant …

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URA to impose VAT on Facebook, Netflix

Kampala, Uganda | THE INDEPENDENT | To maximize tax collection, Uganda Revenue Authority has established mechanisms to start collecting VAT from non-resident service provider companies operating in the Ugandan economy. Collection of VAT from these companies is starting effective 1st July 2022, and will focus on all electronic service providers. These …

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Hiking interest rates

Why it’s the wrong recipe for curbing inflation COMMENT | STEPHEN ONYEIWU | The Central Bank of Nigeria recently announced an increase in the interest rate, from 11.5% to 13%, a 1.5 percentage point hike that took effect immediately. Whenever the Central Bank changes the monetary policy rate, otherwise known …

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Uganda within middle income status threshold: Museveni

Kampala, Uganda | THE INDEPENDENT | Uganda has surpassed the middle-income status threshold and is only awaiting a declaration, according to President Yoweri Museveni. In his State of the Nation Address on Tuesday, Museveni said that the economy has now grown to US$ 45.7 billion, which is slightly above the population …

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Russia to strengthen economic sovereignty in 2020s: Putin

Moscow, Russia | Xinhua | Russian President Vladimir Putin said Monday that the 2020s would be a time for his country to strengthen its economic sovereignty. Russia will speed up the development of infrastructure and key technology and establish an independent and efficient financial system, Putin said in a message to …

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