This shows a Debt-to-GDP ratio of 45.5 per cent in contrast to earlier estimates of almost 50 per cent, which had been stated by the Ministry of Finance, Planning and Economic Development. During the year, the economy grew to 148 trillion Shillings from 139.7 the previous year.
The operators say that since the first lockdown, cost of the fuel they consume for a particular route has been increasing, yet they cannot increase the fares beyond the current rates.
The numbers have also been affected by the changing lifestyle among Ugandans and economic structure of the country, among others, which have seen people reduce their reasons for travel.
The ministry says that they are ready to start releasing money for the Parish Development operationalization but districts and other Local Government units are not yet ready with the necessary requirements.
Romania is offering to give both technical and market linkage support, while Uganda should be be able to develop it products for the market.
NITA-U Executive Director, Hatwib Mukasa says Romania’s partnership with Uganda will open up the foreign market for Ugandan IT innovators or developers in Europe because it its status as a hub of innovation in Europe.
In the notice of intention to take over the fuel company, the lawyers; Ligomarc Advocates, said they had appointed Kabiito Karamagi as receiver for MOGAS, whose full name is Maestrol Oil and Gas Solutions, until the bank recovers all its money. THe notice has also been received by the Uganda Police Force.