NEWS- Government has retaliated the urgent need to fast track on key priorities on sustaining productivity in the economy in a bid to grow the GDP from 500 billion from the current 50 billion shillings.
This is according to the Minister of state for Finance, Planning and Economic Development in charge of general duties.The Minister was speaking at the opening ceremony of the two day 8th High-Level Economic Forum organized by the Ministry of Finance and Economic development at the Kampala Serena Hotel.
The forum running under the theme, “Seizing opportunities for structural transformation to increase productivity and resilience”Advertisement” seeks to examine how Uganda can seize opportunities for structural transformation to increase productivity and resilience amid uncertainties posed by reduced capital flows, rising global interest rates, global protectionism, and geopolitical tensions as well as long-term risks associated with climate change.
Discussions are currently centered at addressing the growth strategies propelling Uganda to achieve inclusive and sustainable economic growth.
The Minister says Uganda has a high potential to grow its economy mainly in the areas of Value addition through agro processing,mining,science and tourism.
Ramathan Ggoobi the Permanent Secretary, Ministry of Finance, Planning and Economic Development and Secretary to Treasury of the Republic of Uganda says Uganda’s economy is currently growing at 6.6 percent which is a positive trend since the outbreak of COVID 19.
He says government is now going to finance the value chain of key priority areas in order to help grow the sectors,citing the example of tourism that generated Uganda 1.4 billion shillings from tourism last year.
He says investing in tourism will generate the country over Ugx 50 billion dollars in the next 15 years.
