Uganda Economy growth is at 6.2% per annum

 

QUOTES OF MUSEVENI

 In the last 35 years, the economy has been growing at the rate of 6.2% per annum.

It now stands at US$40.5billion if you use the exchange rate method and US$116billion, if you use the PPP method.

With the activation of the oil sector, which has been dormant ever since 2006 when we discovered the petroleum and if you add the expected average growth rate of 6% per annum post covid-19, the combination will expand the economy to an estimated US$67billion by 2026 using the exchange rate method and US$193billion, using the PPP method; meaning that the economy will be growing at the rate of between 9- 10% in the initial years of oil production.

 This rate of growth, although reasonable, is not what I want. With the rise of the literacy rate from 43% in 1986 to now 76.53%, we can achieve much-faster rates of growth and I will see to that.

We have achieved rapid rates of growth in some sectors. These isolated positive rapid rates of growth, can be generalized throughout the whole economy.