President Yoweri Kaguta Museveni has assured that Uganda’s economy will grow into double digits when the country starts producing its oil.
“By June 2025, our economy will grow by 7.3 percent without oil, a rate which is rare to be achieved and with oil the rate of growth will go into double digits; that is more than 10 percent,” he said.
Museveni who is also the Commander-In-Chief of the UPDF made the remarks during the 44th Tarehe Sita Anniversary celebrations at Kasasa Township Grounds in Kyotera District.
Uganda’s economic growth is growing progressively, hinged on five phases; the minimum economic recovery by bringing back the 3Cs (Coffee, cotton and copper) and 3Ts (Tobacco, Tea and Tourism), the second phase was to expand this small economy, that is why with coffee now, we are at 9 million bags, we used to be at 2 million bags, Phase three is to diversify the economy, phase four is adding value and, phase five, penetrating the knowledge economy which include automobile and vaccines.”
The economy will be USD 59.3 billion by June 2025 using the Foreign Exchange Method but USD168.5 billion by the Purchasing Power Parity (PPP) method. With The value addition and financing of a number of groups to produce goods and services the economy is targeted at USD 500 billion, in the next few years.
On the other hand, President Museveni directed the Ministry of Works and that of Finance and Planning to start consolidating the old roads before working on new ones.
Tarehe Sita is observed annually on 6th February, and it is a symbol of the founding of the people’s army. The day commemorates the heroic efforts of the founding fathers and the people’s revolution.
Meanwhile, the Chief of Defense Forces, Gen. Muhoozi Kainerugaba, has criticized the recent Supreme Court ruling that banned the trial of civilians in Military Courts, arguing that the decision undermines the vision and mandate of the Uganda People’s Defense Forces (UPDF).
Gen. Kainerugaba expressed his shock over the ruling, stating that the UPDF is a foundation upon which the country’s democracy and socio-economic transformation can be built. He emphasized that the historical mission of the UPDF, which predates the laws being discussed, could not have been achieved without a highly disciplined and effective military force.
Though Muhoozi refrained from providing specifics, he mentioned that the issue would be brought before the High Command, chaired by President Museveni, for further consideration. He described the Supreme Court’s decision as “regrettable” and “unacceptable,” warning that it could potentially lead to a national security crisis by disrupting the command, control, and administration of the defense forces.
Muhoozi called for President Museveni to address the matter swiftly, adding, “That said, we shall not abandon or compromise on the historical mission of the UPDF under any circumstances.” In the meantime, the CDF stated that the defense ministry and the Attorney General are working on the necessary constitutional amendments to address the role of military courts.
By Our Reporter
6 February 2025
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