President Yoweri Kaguta Museveni has called on Ugandans to support his government’s plans and persevere through the economic challenges in the country without disrupting the progress so far made. According to Mr Museveni, Uganda is on a steady trajectory in its social economic transformation despite what is happening elsewhere.
Addressing the nation on Sunday evening, the President declared that after consultations with his Cabinet they resolved not to take drastic measures to curb the spiking commodity prices as this would result in reversing all the gains that the country has scored so far. He pointed out that tax cuts would result in slowing down other sectors such as health and this will later return to bite harder than it is now.
Mr Museveni explained that at a few decimals above 4%, Uganda’s Inflation rate is much lower than many countries across the globe and this was as a result of many strategies that the country has put in place which have enabled the nascent economy to shoulder the beating that has come from what he calls artificial causes from the developed world. He told Ugandans that these were temporary and taking drastic effects to counter them would be detrimental in the long run.
Mr Museveni has called out to critics who claim his government is blind to the hardships Ugandans are facing. He says to the contrary, his government is alive to the effects but said it is safer to look at the long term. He compared this to the measures his government took to curb the spread of Covid-19, stating that naysayers thought a lockdown was radical, yet it saved the lives of many in Uganda.
He has advised Ugandans to be frugal and minimise expenditure on non-essential items, while also finding local alternatives to imported items for use in their homes.
Read full speech below…………
