The Shadow minister for finance Geoffrey Ekanya has advised government to invest more in the agriculture sector if it’s to solve the current financial crisis in the country.

Tororo County MP, Ekanya Geoffrey

Speaking before parliament on the intervention by the government on the current depreciation of a shilling, Ekanya said that unless government increases it’s funding into the agricultural sector, the shilling will continue to depreciate.

The Minister of Finance, Maria Kiwanuka had explained that poor economic performance in industrialized countries has reduced demand for Uganda exports, reducing the foreign currency inflow. She said the government strategy is to now promote exports.

But Ekanya says that the intervention of government as announced by the minister of finance will not work because the country will still remain depending on imports instead of exports which will earn the country more foreign exchange.

Ekanya said that the government’s intervention is limited and cannot be sustained and the only sustainable means is by increasing agriculture funding so that Uganda has more value added exports.

Ultimate Media