today's Pick
Uganda’s economy expands by 5.7%
Publish Date: Jun 05, 2014
Uganda’s economy expands by 5.7%
Presideny Yoweri Museveni greets Speaker Rebecca Kadaga nad her deputy Jacob Oulanyah
  • mail
  • img
newvision

By Apollo Mubiru  

Uganda economy has increased by 5.7% in the current financial year, President Yoweri Museveni has said.


Delivering the State of the Nation Address to Parliament at Serena Conference hall in Kampala, the President said: “the economy continues to be vibrant amidst economic challenges and reforms on the local, regional and International scene.”

President Museveni inspects a guard of honour upon arrival at Serena Hotel. Photo by Enock Kakande

President Museveni arrives at the auditorium to deliver the State of the Nation Address flanked by Speaker Rebecca Kadaga and her deputy Jacob Oulanyah. Photo by Enock Kakande

The President’s address is in fulfillment of the Constitutional requirement stipulated in article 101 (1) of the Constitution of Uganda.

The President said the size of the Ugandan economy is expected to increase to Uganda sh63.329 Trillion, equivalent to US Dollars 25.3 billion.

The size of the economy has increased by 5.7% in the current financial year. This Economic Growth rate is comparable to the 5.8% growth achieved in FY2012/13, despite constraints outside Government’s control, he added.

KCCA executive director Jennifer Musisi was one of the dignitaries present. Photo by Enock Kakande

Several envoys were in attendance. Photo by Enock Kakande

On wealth creation and access to employment, the President advised:  “Anybody wishing to generate wealth, create self-employment, employ others or access employment has no alternative but choose one of these four. The four sectors are: Agriculture, Industry, Services and ICT.”

President Museveni said the global demand for coffee is 149.1 million bags at the value of US$ 13.6 billion; the value of tea is US$ 11.4 billion with a total demand of 4 million tonnes; the total value of milk and milk products is US$ 32.8 billion with the total quantities of 730 million tonnes.

The statements, comments, or opinions expressed through the use of New Vision Online are those of their respective authors, who are solely responsible for them, and do not necessarily represent the views held by the staff and management of New Vision Online.

New Vision Online reserves the right to moderate, publish or delete a post without warning or consultation with the author.Find out why we moderate comments. For any questions please contact digital@newvision.co.ug

  • mail
  • img
blog comments powered by Disqus
Also In This Section
All talk but no peace: South Sudan
After 13 months of fighting and six failed ceasefires, diplomats are being forced to accept that any deal to end the war in South Sudan will, at best, result in a return to the status quo that precipitated the carnage in the first place....
Humour at fallen writer Kalimugogo’s funeral
Laughter filled the air as mourners celebrated the life of renowned author and former career diplomat Godfrey Kalimugogo....
The newly appointed NRM executives have been directed not to contest for Parliamentary seats in the upcoming 2016 elections....
Old man murdered by own children over land
“Geoffrey, my child, why are you killing me? Are you killing me for my own property?” were the old man''s last words....
Japan launches new spy satellite
Japan on Sunday successfully launched a back-up spy satellite, its aerospace agency said, after cancelling an earlier lift-off due to bad weather....
Outrage as IS
The Islamic State group claimed in a video that it has beheaded a second Japanese hostage, drawing international condemnation....
Will a ban on Waragi sold in sachets reduce consumption of Alcohol?
Yes
No
Can't Say
follow us
subscribe to our news letter