Tag Archives: economy

Addis Ababa , Ethiopia | Xinhua | The African Continental Free Trade Area (AfCFTA) Agreement can potentially position African economies stronger in the face of future global shocks such as the ongoing COVID-19 pandemic, a senior United Nations trade policy expert said on Wednesday. Speaking exclusively to Xinhua, David Luke, Coordinator …

Washington, U.S. | Xinhua | The global economy is on track to grow by 4 percent in 2021, assuming vaccination for COVID-19 becomes widespread throughout the year, the World Bank Group said in its latest Global Economic Prospects released on Tuesday. “The global economy appears to be emerging from one of …

Kampala, Uganda | THE INDEPENDENT | Uganda Revenue Authority has hit above the revenue collections target set by the Ministry of Finance, Planning and Economic Development for the first half of the year 2020/2021. The ministry had initially told URA to collect Shs 21.6 trillion for the year, but after evaluating …

How coronavirus turned Uganda’s economy upside down Kampala, Uganda | JULIUS BUSINGE | 2020 has been a bad year for the economy. Growth opportunities have been hampered by the spread of COVID-19 and nationwide lockdown measures which led to closure of businesses and general decline in demand for goods. Jobs …

Washington, U.S. | Xinhua | The 900-billion-U.S.-dollar relief plan is up in the air over Christmas after House Republicans rejected President Donald Trump’s demand to raise direct payments to Americans. Republicans in the U.S. House of Representatives on Thursday blocked an attempt from House Democrats to raise the bill’s 600-dollar direct …

Kampala, Uganda | THE INDEPENDENT | The Kenyan government has agreed to let in 90,000 metric tonnes of Ugandan sugar into its market annually, following a meeting between the two countries officials. The revelation was made by the Deputy Secretary to the Treasury, Patrick Ocailap as he briefed President Yoweri Museveni …

New York, US | Xinhua | Wall Street’s major averages eked out gains in the week as investors monitored negotiations on additional U.S. fiscal stimulus and pored through the Federal Reserve’s latest statement. For the week ending Friday, the Dow rose 0.4 percent, while the S&P 500 and the Nasdaq climbed …

After lockdown, Uganda, Ghana and Senegal show early recovery signs Kampala, Uganda | RONALD MUSOKE | Dozens of African countries will experience subdued economic recovery next year, according to predictions shared by experts at a recent roundtable organized by the Nairobi-based Africa Trade Insurance Agency. The annual roundtable event which …

Kampala, Uganda | THE INDEPENDENT | The financial sector forecast is that the full effect of the Covid-19 pandemic will be realized in the next two years when investments and projects that were started earlier were supposed to have started yielding returns. The real bad effect of the pandemic has not …

Kampala, Uganda | THE INDEPENDENT | The World Bank spells a gloomy picture of Uganda’s economy this year, urging the government to mind its spending plans and increase the domestic revenue mobilization. The 16th Uganda Economic Update shows that Uganda’s economy will contract by 1 percent in the calendar year 2020, …