President Museveni has urges Ugandans to disregard opposition members pleas that Ugandan economy is collapsing and revealed that actually its gaining momentum.
“Despite being in a civil war between 1986 to 2005, Uganda is about the only African country with high rates of growth without oil and other minerals. We have them but we haven’t been using them. In spite of many bottlenecks, here we are” He said
Museveni also said that all those European countries Including Britain France and others as well as USA never grew at the fast pace Uganda is growing at.
“Apart from West Germany, no European country, not even the USA, between 1950 and 1980, grew its per capita income like Uganda for a period of three decades. Only Asian tigers did during their intense period of transformation” he added
“Between 1986 and 2015, the Ugandan economy grew at an annual average rate of 6.92% while per capita income grew at an annual average rate of 3.6% over the same period” He said
While speaking about the revenue collection in concluded financial Museveni said Domestic revenue in the FY2017/18 amounted to UGX15.5 trillion. This is about 15% of GDP. In the 2019/20 FY, and his government is planing to collect UGX19.6. trillion, equivalent to 16.1%
Museveni attributed the acceleration of the economic growth as partly due to the correct decision his regime took in 2006 of prioritizing roads and electricity. He thanked MPs who were in parliament at that time and commended them for being wise. They listened to him when he proposed that they give roads more money.
Although full rationalization of the results of this prioritization has not been fully realized, the more awareness that there are better roads and more abundant electricity is already causing a flood of investments.
Uganda now exports more to Africa than the rest of the world, with 63% of exports to Africa in the FY 2017/18 compared to only 27%, 10 years ago. Exports to Asia have increased to 18% now compared to only 13%, 10 years ago.
He revealed tha NRM government remains committed to ensuring a secure and peaceful Uganda.
“The NRM government remains committed to ensuring a secure and peaceful Uganda. This has come about by promoting patriotism, democracy and good governance for national transformation”
“The crime wave will be defeated. The recent peaceful Martyrs Day celebrations attended by over three million people shows the capacity of our police