MPs question BoU’s recent projection of economic growth figures

Members of Parliament sitting on the National Economy Committee are not satisfied with the figures submitted by the Central Bank indicating that Uganda’s economy grew by 6.8%. The MPs are wondering why the growth is not reflected in the lives of the average Ugandan whose purchasing power is seen reducing every day. This was during a meeting held between the Committee and Central Bank officials who had been summoned to update Parliament on Uganda’s economy and indebtedness. During the presentation, the Deputy Governor Bank of Uganda Dr. Michael Atingi-Ego, said that the Ugandan economy had shown signs of resilience despite numerous shocks. However, Bugabula North MP John Teira wondered why many shopping malls and arcades remained empty if that was […]