Following the confirmation of commercial oil and gas production in 2006, the government has enacted and updated various laws and policies to facilitate sustainable development Kampala, Uganda | THE INDEPENDENT | Uganda’s ninth Oil and Gas Convention, which concluded on April.18 in Kampala, highlighted a promising future for the country’s energy …
Read More »Without traders taxes, the economy is dead
That’s why Museveni can’t save them from URA COVER STORY | THE INDEPENDENT | “Tax has a negative multiplier to the economy, more so in economies such as ours where the tax system is regressive and accountability is very poor. It has long been proven by economists that people’s incomes, business …
Read More »Resilience, potential, fundamentals of Chinese economy remain sound
BEIJING | Xinhua | A series of indicators have shown the Chinese economy accumulated a number of positive elements in the first quarter, kicking off a good start to this year despite pressures and challenges both at home and abroad. The country’s gross domestic product (GDP) recorded a year-on-year growth …
Read More »Economic reforms propel Ethiopia to world’s third fastest growing nation brand status
Opening doors for private investors has spurred a rise in investments in Ethiopia’s key sectors, allowing the country to maintain higher economic growth rates than its African and global peers and elevating its global reputation. SPECIAL REPORT | BIRD AGENCY | Ongoing economic reforms that are also seeing Ethiopia opening …
Read More »British economy in recession
LONDON, ENGLAND | Xinhua | The British economy has entered a recession following two successive quarters of contraction in the second half (H2) of 2023, official data showed Thursday. Britain’s gross domestic product (GDP) fell by 0.3 percent in the fourth quarter (Q4) of 2023 after shrinking by 0.1 percent …
Read More »Uganda maintains fourth spot in Absa Africa Financial Markets Index
There’s a need for enhanced liquidity in domestic markets to foster economic growth and socio-economic transformation Kampala, Uganda | JULIUS BUSINGE | Uganda has preserved its fourth-place ranking in the Absa Africa Financial Markets Index for 2023, despite a slight decrease in its overall score from 64.4 to 62.8. The index, …
Read More »Committee on National Economy to assess country’s debt
Kampala, Uganda | THE INDEPENDENT | Concerns on the increasing public debt burden continue to dominate debate and this time, Deputy Speaker, Thomas Tayebwa has directed the Committee on National Economy to make an assessment on the country’s public debt and report back to Parliament. Tayebwa made the directive during the …
Read More »AfDB introduces new model to help turn Ugandan economy
Kampala, Uganda | THE INDEPENDENT | Uganda has been selected among five African countries to be supported by the African Development Bank to develop circular economy policies. A circular economy is an economic system based on the reuse and regeneration of products to continue production sustainably, minimizing waste, and increasing …
Read More »Where will the global economy land in 2024?
Many stagflationary megathreats over the medium-term horizon could push growth lower and inflation higher COMMENT | NOURIEL ROUBINI | Around this time a year ago, about 85% of economists and market analysts including me expected that the U.S. and global economy would suffer a recession. Falling but still-sticky inflation suggested that …
Read More »Demand for loans surges as lending rates reduce
Bank of Uganda projects the economy to grow at 6% in FY2023/24 up from 5.2% a year before Kampala, Uganda | ISAAC KHISA | Uganda’s consumers recorded a 7.8% increase in borrowings for the three months to October, while lenders’ approval rate for loans in value terms decreased since July 2023, …
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