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
Private school owners have threatened that if their plight is not addressed they will be forced to turn classrooms into lodges and warehouses...
Bishop Nkoyoyo survives accident
Church of Uganda retired Archbishop, Dr. Livingstone Mpalanyi Nkoyoyo has survived an accident, when one of the vehicles in his motorcade overturned, injuring three people....
June will end with a rare 61-second minute
The world will on Tuesday,June 30, experience a minute that will last 61 seconds....
Student’s bicycle phone charger to help the poor
They say everything happens for a reason.For 25-year-old Elliot Abangira, missing a mark-up test made him an innovator....
Sodas may cause 184,000 global deaths a year
SODAS and other sugary drinks may cause up to 184,000 deaths a year worldwide, according to a study...
South Sudan army raped then burnt girls alive - UN
SOUTH Sudan's army raped then torched girls alive inside their homes during a recent campaign notable for its "new brutality and intensity", a UN rights report said...
With Eddie Kenzo’s win at the BET awards, is Ugandan music being recognized worldwide?
Yes
No
Can't Say
follow us
subscribe to our news letter