Tag Archives: economy

Paris, France | Xinhua | The indebtedness of the poorest households in the United States was largely financed by the accumulation of savings of the rich, French economic researcher Frederic Cherbonnier said in an article published recently in newspaper Les Echos. The phenomenon locks the American economy in a vicious circle …

Kampala, Uganda | THE INDEPENDENT | MPs on the Committee on Budget are scrutinising a Shs3.8 trillion supplementary budget with Shs1.3 trillion already spent as being within the limit allowed by the Public Finance Management Act. Section 25(1) of the Public Finance Management Act allows accounting officers, subject to the approval of …

Kampala, Uganda | THE INDEPENDENT | Shadow Finance Minister, Muwanga Kivumbi has criticised government for prioritising expenditure over development, which he said is reflected on the budget presented to Parliament, slowing down the economy. Muwanga said with half of the appropriated revenue for the current financial year already released to Ministries, …

35 percent maximum tariff rate will attract investments in industrial value chains and transform the bloc into an export-led, industrialized economy Dar es Salaam, Tanzania | Xinhua | The East African Business Council (EABC) on Monday urged member states of the East African Community (EAC) to adopt a proposed 35 percent …

Kampala, Uganda | THE INDEPENDENT | Coffee farmers now have a new opportunity to increase production and benefit across the value chain, thanks to a new project fronted by the Southern and Eastern Africa Trade Information and Negotiations Institute (SEATINI). The project dubbed fair-for-all, improving coffee value chains in Uganda seeks to …

Washington, U.S. | Xinhua | Three key U.S. Democratic senators on Tuesday released a proposal for a minimum tax on corporate profits to help pay for President Joe Biden’s economic agenda. The proposal, released by Senate Finance Committee Chairman Ron Wyden and Senators Elizabeth Warren and Angus King, would create a …

Harare, Zimbabwe | Xinhua | Zimbabweans on Monday marked the Anti-Sanctions Day with demonstrations around the country to urge the United States of America to remove sanctions it imposed on the southern African country about two decades ago. The Anti-sanctions Day was set aside by the Southern African Development Community (SADC) …

Abuja, Nigeria | Xinhua | Nigerian President Muhammadu Buhari on Monday launched the eNaira, the country’s central bank digital currency (CBDC), becoming the first African nation to introduce an official digital currency. With the launch of the eNaira in Abuja, Buhari noted Nigeria is also one of the earliest in the …

Kampala, Uganda | THE INDEPENDENT | Uganda’s total debt stock grew to 67.4 trillion Shillings by the end of the financial year 2020/21 in June, according to the Bank of Uganda. This shows a debt to GDP ratio of 45.5 percent, in contrast to earlier estimates of almost 50 percent, which …

Kampala, Uganda | THE INDEPENDENT | Fuel prices in Kampala have hit a new high, with a litre of petrol going for as high as 4,450 Shillings while diesel was quoted at 3,999 Shillings at some stations on Monday. This is an increase by an average of 300 Shillings over the …