Africa Economy Government Uganda

Uganda approaching middle income status – Museveni

President Yoweri Museveni has reassured the National Resistance Movement (NRM) that the 2016 election manifesto is being achieved.

While campaigning in the last election, Museveni said that Uganda would attain a middle income status by 2020.

Economics projections however eventually ruled out this development and Ministry of Finance and Bank of Uganda later confirmed that the target was unattainable by 2020.

However, while virtually addressing NRM delegates conference from State House Entebbe on Tuesday, Museveni said the country is approaching middle income status.

Also read: World Bank promotes Tanzania to middle income status

“We are approaching our target middle income status. The per capita GDP is now 908 dollars,” said Museveni.

To reach the middle income status, a country must have the GDP per capital of above 1000 dollars.

Since 1986, Museveni said Uganda has not only achieved minimum economic recovery but also expanded 23 times in size from 1.5 billion dollars to 37.3 billion dollars.

“Our economy has not only recovered from the catastrophe of 20 years between 1966 and 1986 but has actually expanded to 23 times.”

Source: Soft Power News

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