MUSEVENI IS NOT SATISFIED WITH THE 4.6% GROWTH RATE

MUSEVENI IS NOT SATISFIED WITH THE 4.6% GROWTH RATE

By Tukundane Yonna

In his speech at the ongoing 2016/17 budget reading, president Museveni has stated that government is not going to wait for the oil money to develop our country.  The president adds that using non-oil revenues, government is already doing commendable work.

“I am, however, not satisfied with the 4.6% rate of growth that we achieved this financial year.  Even the rate of 7% is not satisfactory to meet.  We must go to double digits rates of growth in order to transform our society rapidly,” says Museveni.

Since 2006, government has been insisting on prioritization in the use of the budget resources.  The Hon. Matia Kasaija, Member of Parliament for Buyanja county, read the president’s detailed statement because he is familiar with the issues.

In the statement, the MP for Buyanja gave the logic of this budget. To summarize, the  logic of the 2016/17 budget is, on the one hand, to continue expanding the base of the modern economy so as to lower costs of doing business in Uganda and, on the other hand, to attract more and more investors in manufacturing, services and ICT.

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