• Contact Us
  • About Us
  • Advertise
  • Donate
  • Login
Watchdog Uganda
  • Home
  • News
    • National
    • Politics
    • World News
    • Media Outreach Newswire
    • Africa News
    • Tourism
    • Community News
    • Luganda
    • Sports
      • Football
      • Motorsport
  • Op-Ed
    • #Out2Lunch
    • Conversations with
    • Politics
    • Relationships
  • Business
    • Agriculture
    • CEOs & Entrepreneurs,
    • Companies
    • Finance
    • Products
    • RealEstate
    • Technology
  • Entertainment
    • Lifestyle
  • People
    • Showbiz
      • Salon Mag
  • Special Report
    • Education
    • Voices
  • Reviews
    • Products
    • Events
    • Hotels
    • Restaurants
    • Places
  • WD-TV
  • Donate
  • China News
No Result
View All Result
  • Home
  • News
    • National
    • Politics
    • World News
    • Media Outreach Newswire
    • Africa News
    • Tourism
    • Community News
    • Luganda
    • Sports
      • Football
      • Motorsport
  • Op-Ed
    • #Out2Lunch
    • Conversations with
    • Politics
    • Relationships
  • Business
    • Agriculture
    • CEOs & Entrepreneurs,
    • Companies
    • Finance
    • Products
    • RealEstate
    • Technology
  • Entertainment
    • Lifestyle
  • People
    • Showbiz
      • Salon Mag
  • Special Report
    • Education
    • Voices
  • Reviews
    • Products
    • Events
    • Hotels
    • Restaurants
    • Places
  • WD-TV
  • Donate
  • China News
No Result
View All Result
Watchdog Uganda
No Result
View All Result

Museveni Addresses Country’s Inflation, Reveals Game plan to Force Prices Down

Baba Andrew Buluba by Baba Andrew Buluba
2 years ago
in Business
3 0
ShareTweetSendShare

 

President Yoweri Kaguta Museveni addressed the nation on the status of inflation during his State of the Nation Address held at Kololo Independence Grounds on Wednesday, 7, March.

The Prwaisent revealed that prices of domestic goods and services have come down compared to what they were one year ago.

He gave a few examples, like the price of edible oil which he said has reduced from UShs. 10,079 per litre in March, 2022 to UShs. 9,556 per litre in March, 2023; Petrol from a peak of UShs. 6,563 a litre to UShs. 5,138 a litre now, ordinary cement from a peak of UShs. 37,315 a bag of 50 kg in May, 2022 to now UShs.34,874.

He gave the good news that the country has surmounted the rapid increase in prices of both consumer and production prices.

He, however, said that food prices have remained high due to climate change effects that caused prolonged drought in many parts of the Country. This, he said is expected to become history because of the on-going Government investment in small- scale solar powered irrigation to address water shortages.

He explained why Government resisted price controls and subsidies when prices went up sharply. He explained that this was because these kinds of measures are not sustainable and they instead introduce distortions in the economy. “They bring about the old habits of smuggling (magendo) and can result in shortages of goods in the markets. This happens when some rich business people hide consumer goods to cause artificial shortages in order to benefit from higher prices.”

Museveni, further noted that some countries gave subsidies or controlled prices of some essential commodities such as fuel, bread, wheat, but his government does not believe in subsidizing consumption such as subsidizing petrol for people to drive to night clubs.

However, if prices are distorted by some non-economic factors such as sanctions by the West on account of the war between Russia and Ukraine, for inputs into production such as fertilizers, he said it may be logical to look at subsidies and they are studying this possibility.

The Preaident further explained that the policy of the Government is to allow demand and supply forces to determine prices and incentivize production.

However on the issue of fertilizers, he said they are considering either get a solution to stop the west from interfering with the prices of the fertilizers or providing subsidies.

 


Do you have a story in your community or an opinion to share with us: Email us at editorial@watchdoguganda.com
ShareTweetSendShare

Related Posts

Joshua Kato
Business

JOSHUA KATO: Tax Amnesty re-introduced – A timely opportunity for businesses

10th July 2025 at 09:47
Business

Is Artificial Intelligence Beneficial or Detrimental?

10th July 2025 at 00:17
Business

Henry Mulindwa: A Daily Monitor editor who’s lived with loyalty, love and dedication to friends and company

9th July 2025 at 20:19
Next Post

Presidential Address: Tourism, Coffee, Fish Highlight Country's Export Boom in State of The Nation Address

  • Prostitution in Uganda- Courtesy Photo

    10 dangerous hotspots known for prostitutes in Kampala

    1127 shares
    Share 451 Tweet 282
  • Silent Billionaire Bosco Muwonge Buys Mukwano Arcade at UGX 250 Billion Cash Down

    50 shares
    Share 20 Tweet 13
  • Who is Bosco Muwonge, Uganda’s elusive real estate billionaire?

    38 shares
    Share 15 Tweet 10
  • LIST: New salary structure for civil servants starting July 2020 out; scientists, lecturers get juicy pay rise

    2289 shares
    Share 916 Tweet 572
  • Uganda’s Billionaires 2025: Once Again Sudhir Ruparelia Leads a Resilient Pack

    49 shares
    Share 20 Tweet 12
Facebook Twitter

Contact Information

Watchdog Uganda is a portal for solution journalism, trending news plus cutting edge commentaries in the fields of politics, security, business, tourism, entertainment, technology, agriculture, climate change, environment, public health et al. We also give preference to Ugandan community news and topical discussions. The portal also publishes community news and topical discussions.

Email: editorial@watchdoguganda.com
To Advertise:Click here

Latest News

President Museveni flags off construction of key Kayunga- Galiraya Road to link Northern and Central Uganda 

11th July 2025 at 19:32
Mashable is a global, multi-platform media and entertainment company For more queries and news contact us on this Email: info@mashablepartners.com

Check out

  • Trending
  • Comments
  • Latest
Minister Muruli Mukasa

LIST: New salary structure for civil servants starting July 2020 out; scientists, lecturers get juicy pay rise

24th May 2020 at 10:45
Pregnant woman

Shock as 17-year old boy impregnates his two sisters during Covid-19 lockdown 

17th June 2020 at 08:17
Sudhir Ruparelia is the undisputed king of Kampala

Billionaire Sudhir’s wisdom on how to invest in real estate

0

How a boy’s destiny turned from cotton grower to communications guru

0

President Museveni flags off construction of key Kayunga- Galiraya Road to link Northern and Central Uganda 

11th July 2025 at 19:32
Dr. Yona Baguma

NARO Director General, Dr. Yona Baguma, Animates CPA Forum with Breakthroughs in Agricultural Research

11th July 2025 at 17:42

© 2025 Watchdog Uganda

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Home
  • News
    • National
    • Politics
    • World News
    • Media Outreach Newswire
    • Africa News
    • Tourism
    • Community News
    • Luganda
    • Sports
      • Football
      • Motorsport
  • Op-Ed
    • #Out2Lunch
    • Conversations with
    • Politics
    • Relationships
  • Business
    • Agriculture
    • CEOs & Entrepreneurs,
    • Companies
    • Finance
    • Products
    • RealEstate
    • Technology
  • Entertainment
    • Lifestyle
  • People
    • Showbiz
      • Salon Mag
  • Special Report
    • Education
    • Voices
  • Reviews
    • Products
    • Events
    • Hotels
    • Restaurants
    • Places
  • WD-TV
  • Donate
  • China News

© 2025 Watchdog Uganda