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Rugunda calls for mass efforts in economic growth

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Rugunda calls for mass efforts in economic growth

Prime minister Dr. Ruhakana Rugunda

Prime minister Dr. Ruhakana Rugunda

The Prime Minister Dr. Ruhakana Rugunda has called upon Ugandans to work tirelessly towards coming up with ways of generating additional growth.

“Uganda needs to grow faster than the current rates (6 percent) if the Vision 2040 of transforming Uganda from a peasant to a modern and prosperous country is to be achieved,” he said.

According to Rugunda, different stakeholders need to come together through Public Private Partnership in order to enable developments especially for bigger projects.

He made these remarks while officially opening the Third Economic Forum at Imperial Royale Hotel in Kampala on Friday this week

The forum was organized by the Ministry of Finance and Economic Developmnt under the theme: Accelerating Economic Growth for Shared Prosperity.

The forum was organized purposely to bring together different stakeholders from various sectors of public, private and different NGOs to discuss means of promoting development in Uganda.

“We need to raise our growth from the current six percent to seven and ten percent in order to handle challenges especially connected to the high population growth rate,” he said

“We also see emerging challenges related to the global economies particularly risks stemming from the uncertainty of Brexit as well as trade disputes between some of the world’s biggest economies,” he added

Rugunda said there are several channels through which such conflicts at global level shall affect Uganda including low exports and remittances.

In order to encounter this, Rugunda said that the government is improving infrastructures to attract foreign investments and also improving their relationship with the neighbors.

“We are glad that yesterday our president signed a memorandum of understanding with Rwanda this means that peace and increased business shall be witnessed in the region that shall foster growth,” he added

 

 

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