High fuel, commodity prices dampen Museveni’s first year in his sixth term - News Summed Up

High fuel, commodity prices dampen Museveni’s first year in his sixth term


By KABONA ESIARA More by this AuthorThe high cost of living, a widening budget deficit, corruption and growth uncertainties continue to blot Ugandan President Yoweri Museveni’s sixth term in office. The last time President Museveni addressed the nation about the increasing prices was Labour Day, when he advised Ugandans to choose between buying bread and cassava. Although the Bank of Uganda says the economy is recovering from the pandemic downturn, domestic growth weakened in March 2022 due to the rising prices of food and fuel. AdvertisementJuliet Najjinda, manager of tax services at PricewaterhouseCoopers Uganda, said it is time the government introduced a fuel subsidy to reduce pump prices, as the manufacturing sector is feeling the heat. “This makes it by far the most expensive hospital to be built in Uganda, in comparison to Kiruddu, which cost Uganda $25 million.


Source: Daily Nation May 22, 2022 11:00 UTC



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