museveni

SONA: Museveni, “Uganda’s economy is currently standing at US$49.4b”

(Last Updated On: 7 June 2023)

Kampala, June 7, 2023: President Museveni has Wednesday during his State of the Nation Address said since his last address a number of Ugandans have departed from this earth.

He remembered Lt Gen Elly Tumwine, Late Justice Ruby Opio Aweri, Late Paul Kawanga Ssemogerere, Late Col Rtd Okello Engola, among others.

The people who have died in the landslide, floods and our people who died in Somalia.

The performance of the economy is as the results of the NRM government’s deliberate efforts, a strong foundation has been built for rapid economic growth and social expansion.

Although the country has been faced with economic shocks, household businesses have responded positively to the government investments in agriculture and many wealth creation initiatives.

I cannot subsidize fuel so that people can drive to nightclubs. If the prices are distorted by some non-economic factors like sanctions from the West, it may be logical to subsidize. 

President Museveni, June 7, 2023


“60 per cent of households have increased their incomes in the last financial year,” Museveni added.

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Museveni says the Parish Development Model (PDM) will improve household incomes, adding that PDM is a successor program to NAADS and OWC.

“I was told that some of the PDM money has been given to people who are not eligible. A few elite people create SACCOS and take the money.

“The State House Anti-Corruption Unit has arrested some people, all thieves be alert. I’m coming.

On the costs of living, he says the price of domestic goods and services have reduced now from the previous year. “Petrol has reduced from shs6,563 a litre to shs5,138 now.”

According to Museveni, Uganda’s economy is currently standing at US$49.4b which is 30 times the figure it was when NRA took over power in 1986.

He noted that 60 per cent of households have increased their income in the past year compared to 43 per cent in the previous year.

This story is being updated 

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