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Tag Archives: economy

Scholars predict second Indian expulsion from Uganda

Kampala, Uganda | THE INDEPENDENT | As the country marks 50 years since the expulsion of Asians from Uganda by former President Idi Amin Dada, two distinguished scholars have said there is going to be another expulsion if things continue with the trajectory they are taking. Speaking at a public lecture …

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MPs applaud Museveni for transforming agriculture sector

Kampala, Uganda | THE INDEPENDENT | Legislators have applauded President Yoweri Museveni for putting emphasis on value addition of agricultural products saying it will transform the agricultural sector. This was during the debate on the President’s State of Nation Address which he delivered to Parliament on Tuesday, 07 June 2022. Namayingo District …

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Parliament to debate State of the Nation Address

Kampala, Uganda | THE INDEPENDENT | Buyanja East County Member of Parliament, Emely Kugonza has said that the socio-economic transformation championed by President Yoweri Museveni has awakened Ugandans to meaningfully participate in the wealth and job creation initiative. “More Ugandans are embracing the urgent need to integrate into the money economy. They …

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Shilling depreciation not easing soon: Experts

Kampala, Uganda | THE INDEPENDENT | The Uganda shilling continues to depreciate against the US dollar as both local and external factors exert pressure on the local and other emerging currency markets. For more than a week, the shilling has just stayed short of touching the 3,900 level against the dollar, amidst …

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Biden jabbed for telling 6 notable lies: Hill

New York, U.S. | Xinhua | While every modern U.S. president has stretched the truth now and then, Joe Biden’s routine misstatements about money and the economy seem to go unchallenged, reported The Hill in mid-July. “In recent months, as the economy has slipped into a soft recession and with inflation …

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EU, private sector slam low funding for tourism sector

Kampala, Uganda | THE INDEPENDENT | The European Union has joined the Ugandan tourism sector and the civil society to demand increased government funding for the sector. The tourism sector is Uganda’s top foreign exchange earner, valued at US$ 1.6 billion in 2019/2020, while the number of foreign visitors was about …

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Banking industry to develop long term export credit facility

Kampala, Uganda | THE INDEPENDENT | The Ugandan borrowing public will continue enduring a high cost of credit for as long as the current inflation and foreign exchange rates continue skyrocketing, according to the Bank of Uganda. This is in response to calls by the private sector, especially the manufacturers, that …

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