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.
The Permanent Secretary and Secretary to the Treasury (PSST), Ramathan Ggoobi, has said Uganda's economy has demonstrated significant progress, with the size of the economy tripling to Shs 202 trillion in the Fiscal Year 2023/24, up from Shs 65 trillion in FY 2010/11.
Ramathan Ggoobi, the Permanent Secretary to the Treasury (PSST), has said that the Ugandan economy has fully recovered from various shocks and crises, with a significant economic growth of 6% in the previous fiscal year and a notable increase from an average of 4.1% recorded between FY 2019/20 and FY 2022/23.