President Yoweri Museveni rose to the podium during the state of the nation address at Kololo Ceremonial Grounds to hail Ugandans for reaching the lower floor of middle income status .
" Uganda has just entered the middle-income status, we are currently on the lower ground. There are, however, still some trade barriers in the East Africa n Community and these are hindering our development. I urge the community to remove these bottlenecks so as to have one common market.
"We recently carried out a survey together with MasterCard and discovered that manufacturing plants, these factories are operating at 54% that is redundant capacity of 46 % the report also highlighted that the reason for this low capacity is ineffective demand for Ugandan made products, why because they are produced at high costs that makes their final price high and an affordable," Kagingo said.There was a problem processing your submission. Please try again later.
The souring debt burden, that eats into the domestic revenues collected is yet another economic concern. On the issue of traders that were on rampage, closing shops over taxation, high interest rates among others the president said that the financial support is for only large-scale manufacturers who create jobs and save Uganda from begging 'Okushaka"
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