Uganda’s economy under threat

Bank of UgandaUgandans have been asked to prepare for the worst in monetary terms as the bank of Uganda is trying to control the impacts of exorbitant government spending in the past electionsAccording to Musa Lwanga a researcher at Economic policy research centre, there was a lot of domestic borrowing by government and subsequent spending which prompted central bank to use macro and microeconomic measures to control the likely inflationary tendencies. He explained that what Uganda is now facing, is reduced private investment, less household income, less job creation; all emanating from tough economic policies employed by central bank to contain the sagging economy.
 
According to the report on Campaign financing in Uganda 2015-2016, released by Alliance for campaign finance monitoring over 2.4 trillion was spent during election time.

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