Matooke Republic
  • Home
  • News
  • Entertainment
  • Gossip
  • Features
  • Business
  • Sports
  • Health
  • Photos
  • Relationships
No Result
View All Result
Matooke Republic
  • Home
  • News
  • Entertainment
  • Gossip
  • Features
  • Business
  • Sports
  • Health
  • Photos
  • Relationships
No Result
View All Result
Matooke Republic
No Result
View All Result

The situation needs planning not emotions– Museveni on Uganda’s economic challenges

Matooke Republic by Matooke Republic
May 23, 2022
in News
Reading Time: 2 mins read
Share on FacebookShare on Twitter

President Yoweri Museveni has attributed the current economic challenges to the COVID-19 pandemic and the conflict in Ukraine.

While delivering his national address on Sunday, Museveni said that one of the causes of high commodity prices in Uganda is the war in Ukraine and the western sanctions on Russia, which have caused shortages in wheat for the bread eaters and in fertilizers, gas, and petrol.

According to Museveni, the situation needs planning and strategy and not emotions.

RelatedPosts

Soldiers to declare wealth, says IGG Kamya

NEMA starts crackdown on vehicles without dustbins

“Many Ugandans had started panicking and predicting doom, but we the NRM, whom God has enabled to handle even bigger challenges in the past, were sure that the problems will be rationally handled and resolved,” said Museveni.

Museveni said that the expensive litre of fuel is very dangerous as it is sucking money from people’s pockets and dollars from the national reserves.

However, the president claimed that Uganda is self-sufficient when it comes to food.

“This is one of the most important factors of survival,” he said.

Museveni said that the problem of high commodity prices, if not handled well, can lead to the collapse of the economy.

“If handled well, it can be an advantage to the economy. The real solution to the high prices is increased production. Produce more to deal with the shortages,” he said.

On reducing taxes, Museveni stated that the removal of taxes on all goods will be suicidal.

“The crucial items are not taxed, therefore removing taxes from many of the imports is suicidal and a blunder.

We now have $4.5 billion in the reserve. These are enough to support imports for 4.2 months,” he said.

Tags: MuseveniUgandan economy
Previous Post

Navio, Slick Stuart blow away Mbarara with unforgettable performance

Next Post

AFCON 2023 Qualifiers: Micho names provisional squad of 33 players

Related Posts

Soldiers to declare wealth, says IGG Kamya

3 days ago

NEMA starts crackdown on vehicles without dustbins

4 days ago
Next Post

AFCON 2023 Qualifiers: Micho names provisional squad of 33 players

JUST IN

FUFA boss Moses Magogo.

245 candidates apply for the Uganda Cranes job; only two are Ugandans

September 23, 2023

“I won’t accept his move until Fabrizio Romano confirms it,” Mixed reactions as former KCCA FC darling Allan Okello joins rivals Vipers SC

VIDEO: Bebe Cool parades his brand-new armoured car

Allan Okello joins Vipers SC on three-year deal

Soldiers to declare wealth, says IGG Kamya

She Cranes Head Coach Fred Mugerwa to receive monthly salary after signing new contract

NEMA starts crackdown on vehicles without dustbins

JOBS

Hot Right Now

245 candidates apply for the Uganda Cranes job; only two are Ugandans

Why Ugandans want Jennifer Musisi to return

VIDEO: Bebe Cool parades his brand-new armoured car

Matooke Republic

© Matooke Republic 2022

  • Home
  • News
  • Entertainment
  • Gossip
  • Features
  • Business
  • Sports
  • Health
  • Photos

© Matooke Republic 2022