Covid, geopolitical tensions might cause global economic recession - WB

Uganda, Jan. 11 -- The World Bank (WB) has warned in its global economic prospects that worldwide economic growth is slowing sharply in the face of elevated inflation, higher interest rates, reduced i... Read More

Govt proposes budget cutsto revive economy

Uganda, Jan. 9 -- Key ministries, departments and government agencies (MDAs) will have to find alternative ways to finance their planned activities in the next financial year after Cabinet approved de... Read More

Performance of industrial parks above target, says government

Uganda, Jan. 6 -- Land usage in industrial parks exceeded government target for the period ended December 2022, according to the Ministry of Finance 2021/22 annual performance report. The report, whi... Read More

2.2m businesses not registered, have no bank accounts

Uganda, Jan. 6 -- MARTIN LUTHER OKETCH A study by the Economic Policy Research Centre (EPRC) found out that at least 2.2 million businesses in Uganda have no legal status. The study, conducted last ... Read More

Government lays out measures to improve public sector

Uganda, Jan. 5 -- The government has laid out five key measures to improve public service delivery. Despite the ever-increasing public expenditure, the government continues to face problems of poor s... Read More

Businesses report improved performance

Uganda, Jan. 5 -- The businesses environment showed further improvement in December, according to a survey by Stanbic Bank. The survey, which measures performance of the economy through interviewing ... Read More

FDI grows by 35% in 2022 last quarter

Uganda, Jan. 4 -- Foreign Direct Investment (FDI) grew to $474.8m (about Shs1.769 trillion) in the last quarter of 2022, according to Bank of Uganda. The growth, the Central Bank noted in the state o... Read More

Finance raises red flag over high population growth rate

Uganda, Jan. 3 -- The government has expressed worry that high population growth rate is exerting a lot of pressure on the economy to boost quality services and employment. In the Budget Framework Pa... Read More

Debt servicing putting pressure on revenues - BoU

Uganda, Jan. 2 -- Bank of Uganda has said government now spends 30 percent of taxes to service debt, increasing pressure on domestic revenues. In details contained in the State of the Economy Report ... Read More

Govt fiscal operations were less expansionary in four months - BoU

Uganda, Jan. 2 -- The state of the economy report for December 2022 by the Central Bank has revealed that in the four months of FY22/23, fiscal operations were less expansionary than programmed, refle... Read More