Tag Archives: economy

London, UK | Xinhua | Three years after the United Kingdom’s (UK) departure from the European Union (EU), there is now a reasonable consensus that the effects of Brexit on the country’s economy have been negative, and public support for it has been decreasing, a scholar has said. “It’s more an …

United Nations | Xinhua | World output growth is projected to decelerate from an estimated 3.0 percent in 2022 to 1.9 percent in 2023, marking one of the lowest growth rates in recent decades, according to a UN report launched on Wednesday. The UN World Economic Situation and Prospects 2023 report …

Kampala, Uganda | THE INDEPENDENT | The National Social Security Fund-NSSF is on the way to achieving above the target set for the year 2022/2023, according to the Acting Managing Director, Patrick Ayota. The bright outlook is based on the performance over the last six months. The Fund’s records show that …

Davos, Switzerland | Xinhua | The global economy has regained steam after a difficult COVID-19 pandemic, but experts at the World Economic Forum (WEF) say a recovery is far from certain. Under the theme “Cooperation in a Fragmented World,” the WEF’s 2023 annual meeting concluded here on Friday. The gathering came …

Kampala, Uganda | THE INDEPENDENT | The International Monetary Fund, IMF, has approved the immediate disbursement of 240 million dollars (886 billion Shillings) under the Extended Credit Facility (ECF) arrangement. This follows the approval of the combined second and third reviews of Uganda’s performance under the arrangement, and this brings the total …

Nairobi, Kenya | Xinhua | The World Bank on Tuesday forecasted the sub-Saharan Africa (SSA) economy to slow to 3.6 percent in 2023 and rise to 3.9 percent in 2024. According to the World Bank’s latest Global Economic Prospects report, the growth was revised down for almost 60 percent of countries, …

London, UK | Xinhua | United Kingdom (UK) Prime Minister Rishi Sunak pledged to halve inflation and boost the country’s economy in his first major speech in 2023 on Wednesday. Sunak made five pledges. These are: to halve inflation; to grow the economy; to reduce national debt; to cut hospital waiting …

Kampala, Uganda |  THE INDEPENDENT | Uganda Revenue Authority-URA started the calendar year 2023 with explanations regarding the new plan for the taxation of the incomes of artistes in the entertainment industry. This is one of the revenue measures being put in place for the financial year 2023/2024 which begins in …

New York, U.S. | Xinhua | Oil prices fell sharply on Tuesday amid growing concerns over the global economic outlook. The West Texas Intermediate for February delivery dropped 3.33 U.S. dollars, or 4.15 percent, to settle at 76.93 dollars a barrel on the New York Mercantile Exchange. Brent crude for March …

Tunis, Tunisia | Xinhua | Germany has signed two agreements to donate 105 million euros (112 million U.S. dollars) to Tunisia to support the country’s economy, the Tunisian Foreign Affairs Ministry said in a statement on Friday. “The two agreements cover vital areas of cooperation, including regional development, support for decentralization, …