By Website Writer; H.E Yoweri Kaguta Museveni will this Sunday May 22, 2022 address the nation on the current Economic situation.
According to the Senior Press Secretary the President Of The Republic of Uganda, Nabusayi Lindah Wamboka, the address will be broadcast live to all Television and radios from Nakasero State Lodge at 8PM.
“President Kaguta Museveni will this Sunday May 22, 2022 at 8.pm address the Nation to update Ugandans on the current Economic situation. The address will be broadcast live from Nakasero State Lodge. Please save date & tune in, to all Television and Radios,” Nabusayi Lindah Wamboka’s tweet states.
For the past months, commodity prices in Uganda have soared than never before as most economists relate the dire situation to the global economic crisis sparked by the Ukraine – Russia war.
This has since seen a greater increase in the Oil and Gas prices, hence the global economic catastrophe.
Last week, former Forum for Democratic of Change (FDC) President, Rtd. Col. Dr. Kizza Besigye was arrested and detained at his home in Kasangati, Wakiso district after he attempted to lead demonstrations against the rising prices for commodities.
Ugandan citizens and leaders have since cried out to the government for its intervention, but a positive response has ceased since then.
Mr. Ramathan Ggoobi, the Ministry of Finance Permanent Secretary, recently revealed that government has no solution to the economic calamity as its globally induced.
He also cautioned Ugandans proposing subsidies as it would be dangerous to the economy in a long run.
“We are not going to subsidise anything. Subsidies don’t work and that is bad economics. Those who have done it have faced problems. Subsidies tend to take money to wrong people and not those you intend. Mafia can organize and take all money for subsidies,” Ggoobi said.
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