Nairobi, May 19 -- Budget cuts in the public and private sector since last year alongside weak consumer spending are hurting businesses in Uganda's fast-moving consumer goods and hospitality industries.

The trend points to lower product sales and fewer clients visiting food joints in the first half of 2024.

Multiple spending cuts inflicted on various government ministries and agencies are blamed on reduced tax revenues, higher debt servicing costs and contingent expenses tied to entities such as National Identification Registration Authority and previous preparations made for the Non-Aligned Movement and G77+China summits held in Kampala, which cost Ush240 billion ($63 million) in overall organisational expenses.

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