Tag Archives: economy

Davos, Switzerland | Xinhua | The International Monetary Fund (IMF) on Tuesday warned of further headwinds for the global economy and spiralling inflation around the world due to the conflict in Ukraine, while voicing that China will remain an engine of growth after the “near-term headwinds”. “We are seeing additional weaknesses …

Moscow, Russia | Xinhua | The Russian economy is withstanding the blow of Western sanctions “quite well” despite all the difficulties, as was evidenced by all the key macroeconomic indicators, President Vladimir Putin said Monday. Putin made the remarks during talks with visiting Belarusian President Alexander Lukashenko in Russia’s Black Sea …

Kampala, Uganda | THE INDEPENDENT | President Yoweri Museveni’s Sunday evening address to the nation was largely aimed at responding to the escalating prices of essential commodities, or at least that is what most Ugandans expected. His explanations of the situation drew criticism, as many Ugandans thought he was blaming the …

Harare, Zimbabwe | Xinhua | Zimbabwean President Emmerson Mnangagwa has praised Chinese investment for changing the economic landscape in his country and other parts of Africa, while blasting the West for plundering African resources for decades. In his weekly column for the government-run The Sunday Mail newspaper, Mnangagwa said that the …

Kampala, Uganda | THE INDEPENDENT | President Yoweri Kaguta Museveni absolutely said nothing during his televised address on the economic situation in the country according to his longtime rival, Rtd Col. Dr. Kizza Besigye, the former Forum for Democratic Change-FDC party president. This comes just hours after the president Museveni addressed …

Experts release a guide for beneficial laws in Uganda Kampala, Uganda | THE INDEPENDENT | Corporate opacity presents a key vulnerability in the Ugandan economy,  contributing to the Shs2 trillion (US$550 million) in illicit financial flows (IFFs) lost each year, according to a joint report released by Global Financial Integrity …

NEWS ANALYSIS | THE INDEPENDENT | Uganda’s Sh48.13 trillion National Budget has been approved by Parliament today. The approved budget has increased by sh5 trillion from the current financial year budget. Over half of this money is expected to come from domestic revenue collection with Government targeting  a collection of …

United Nations | Xinhua | The global economy is predicted to expand by only 3.1 percent this year, down from the 4.0 percent projected in January, largely due to Russia’s special military operation in Ukraine, according to UN’s latest World Economic Situation and Prospects (WESP) report, launched on Wednesday. As the …

Nine out of the 26 commercial banks register a decline in profits in 2021 Kampala, Uganda | THE INDEPENDENT | Nine out of the 26 registered commercial banks in Uganda registered a decline in profits in 2021, compared to the previous year. Over the same period, eight banks registered a …

Kampala, Uganda | THE INDEPENDENT | Officials from Bank of Uganda and the National Planning Authority (NPA) have told Members of Parliament that the state of the economy is struggling because of global related factors. The officials were interfacing with the Committee on National Economy to discuss the state of the …