Uganda buys far more from foreign countries than it sells abroad, creating a massive $4.6 billion trade gap. Because international sellers only accept US dollars, local traders are constantly scrambling to buy greenbacks, driving the dollar’s value up and shilling down.
"It is very sad to learn of the death of our brother Hon. Charles Matovu, former Member of Parliament for Busiro South, who passed on yesterday. Hon. Matovu represented his people with vigor and utmost dedication in the 11th Parliament. He was a member of the Parliamentary football team, where his tremendous contribution led us to dominate the East African Parliamentary games. My condolences go out to his family, the people of Busiro South, and the country at large. May he rest in eternal peace., Tayebwa said.
A total of 79 ministers took the oath of office before President Museveni at State House Entebbe as Uganda’s new Cabinet officially assumed office. Four appointees missed the ceremony due to citizenship concerns, while Janet Museveni was absent.
This comes after several complaints of lagging government projects around the country and the continued loss of lives and property to natural disasters in the same areas.
The seven key growth areas that the government will work on include, but are not limited to, peace and security for the people and their property, transport infrastructure rehabilitation, increasing and following up on wealth creation initiatives such as PDM and Emyooga, improvement on science, technology, and innovation, human capital development through health, education, clean water supply, management of natural disasters, and regional and international commitments.
The Ministry of Finance and Economic Development has promised to increase the tax incentives and improve the tax policies that affect the investors in the country.