• 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

Defiant Museveni Rejects Kasaija’s Finance Understated Economic Growth Figures, Shows Reasons Why

Baba Andrew Buluba by Baba Andrew Buluba
2 years ago
in Finance
14 0
ShareTweetSendShare

President Yoweri Kaguta Museveni has disputed the Minister Matia Kasaija- led ministry of finance on the country’s economic growth, indicating they seem understated.

The Preaisent said this while delivering his State of the Nation Address on Wednesday,7 at Kololo ahead of the reading of the budget for the new financial year 2023/2024.

 While delivering the country’s Fiscal performance of the past financial year, 2022/2023, Museveni noted that a result of the NRM Government’s deliberate efforts to expand the economic base of the Country, a strong foundation has been built for rapid economic growth and socio-economic transformation.

He said that in 1986, when the NRM Government took administration of the Country, the size of our economy was equivalent to US$ 1.5 billion. Today, our economy is about US$ 49.4billion. In other words, the economy has expanded by more than 30 times since 1986.

He indicated a sharp economic growth for this year which he said is projected at 5.5 percent as comoared to the 4.7 per cent for the 2021/2022 financial year.

“The economic growth for this year is projected at 5.5 percent in real terms compared to 4.7 percent last financial year 2021/22.”

Over the next five years, Museveni said the economy is projected to grow at an average of 6.5-7.0 percent per year.

The Presisent, however, punched holes in the above projection, indicating that he is convinced the economy will grow faster than that.

“But these are growth rates of the Ministry of Finance but me I believe we can grow much faster.” he said.

Muaeveni went on to elaborate reasons for his faster growth projection, giving avenues through which the boom will be attained. These include; economic stability as a result of low inflation, establishment of more manufacturing plants, continued implementation of the PDM, support to Small and Medium-Scale Enterprises through Emyooga SACCOs, the Youth and Women funds and other initiatives,increased Oil and Gas Sector activities; and growth in regional trade and the positive impact of the continued recovery of economies in the Middle East, Asia, Europe and USA which provide markets for our exports.

He projected the country’s GDP to grow up to a whooping Ugshs 207.22 trillion, translating to USD 55.17 Billion by the end of the 2023/2024 Financial Year.

“Therefore, by the end of FY 2023/24, Uganda’s GDP is projected to grow up to UShs.207.22 trillion (equivalent to USD 55.17 billion), translating to USD 156.76billion in PPP terms. This in turn is projected to grow our GDP per capita to USD 1,186, up from USD 1,096 in FY 2022.” he assured.


Do you have a story in your community or an opinion to share with us: Email us at editorial@watchdoguganda.com
Share3Tweet2SendShare

Related Posts

Business

Silent Billionaire Bosco Muwonge Buys Mukwano Arcade at UGX 250 Billion Cash Down

3rd July 2025 at 06:26
Agriculture

Dr. Sudhir Ruparelia to Headline UK-Africa Business Summit in London on 12 September 2025

1st July 2025 at 14:24
Business

Rugby Union Teams Up with Luxe Speke Resort for Sizzling 2025 Africa Cup

26th June 2025 at 16:04
Next Post
Dr Silver Mugisha

NWSC restores water connection to key health centers, warns Health Ministry on defaulting

  • Prostitution in Uganda- Courtesy Photo

    10 dangerous hotspots known for prostitutes in Kampala

    1105 shares
    Share 442 Tweet 276
  • LIST: New salary structure for civil servants starting July 2020 out; scientists, lecturers get juicy pay rise

    2284 shares
    Share 914 Tweet 571
  • Uganda’s Billionaires 2025: Once Again Sudhir Ruparelia Leads a Resilient Pack

    41 shares
    Share 16 Tweet 10
  • LIST : Gov’t releases Revised Salary Structure for Teachers, Police, and Prisons Staff for FY 2024/2025

    116 shares
    Share 46 Tweet 29
  • Pastor Bugingo Seeks Reconciliation with Teddy and Children, Prays for Makula’s Twins

    19 shares
    Share 8 Tweet 5
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

Silent Billionaire Bosco Muwonge Buys Mukwano Arcade at UGX 250 Billion Cash Down

3rd July 2025 at 06:26

20-year-old Woman Arrested After Dr’ Spire’s Death at Kajjansi Lodge

2nd July 2025 at 22:19

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 set to speak at business forum in United Kingdom

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

Silent Billionaire Bosco Muwonge Buys Mukwano Arcade at UGX 250 Billion Cash Down

3rd July 2025 at 06:26

20-year-old Woman Arrested After Dr’ Spire’s Death at Kajjansi Lodge

2nd July 2025 at 22:19

© 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