Museveni: Uganda’s economy growing at 7 per cent

President Yoweri Kaguta Museveni, 81, on January 26, said the Ugandan economy is growing at 7 per cent.

Museveni, who addressed the nation as Uganda marks 40 years of Liberation, said a lot of positive things have happened under his leadership.

The Liberation Day, held under the theme “Tribute to Our Patriots Who Ushered in the Fundamental Change,” was held at Kololo Ceremonial Grounds in Kampala

Museveni attributed the economic progress to deliberate policy choices aimed at strengthening domestic production.

“Our economy is now growing at about seven per cent, and Ugandan supermarkets are stocking almost 75 per cent locally produced goods,” he said. “In the past, it was nearly 100 per cent imported.”

On the country’s transition to a money-based economy, Museveni noted that significant progress had been made over the years. He said that by 2019, only 39 per cent of households were not yet participating in the money economy.

As a result, he decided to introduce the Parish Development Model (PDM).

“That is when I decided we should give money directly to the people,” he said, adding that while most beneficiaries had used the funds appropriately, some had diverted the money.

President Museveni stressed that access to PDM funds must be guided by inclusivity and transparency, calling for decisions to be made through general parish meetings.

“PDM must be discussed in a meeting of the whole parish, especially for those who want to fight poverty, as long as they are above 18 years,” he said.

He announced plans to amend the PDM guidelines to allow for increased funding, particularly in urban areas. “We are going to amend the rules, and more money will be added. In towns, between Shs 400 million and Shs 500 million will be allocated,” he said.

“Go and be members of the parish SACCO. Any parish chief who does not cooperate with this programme should be arrested. Some parish chiefs have already been arrested because of selfishness,” he said.

On corruption, Museveni warned National Resistance Movement members involved in the misuse of PDM funds that they would face severe consequences, adding that such individuals would be removed from leadership positions and compelled to refund the misappropriated funds, reiterating the government’s policy of zero tolerance for corruption.

He reaffirmed that Uganda’s development priorities remain agro-industrialisation, tourism, and value addition, noting that these sectors hold the greatest potential for job creation and income growth.

“These are the sectors that will create jobs, raise incomes, and move more Ugandans into the formal economy,” he said.

Commenting on the recently concluded elections in which he obtained more than seven million votes, Museveni expressed concern over low voter turnout among his supporters.

“We got eight million votes, but about six million of our supporters did not turn up. If they had come, there would be no opposition,” he said.