Uganda’s economy registered a 3.3 percent growth rate for the financial year 2020/21 up from 3 per cent registered in 2019/20 even as Covid-19 pandemic wreaked havoc in Uganda and other parts of the globe.
Delivering the State of the Nation address at Kololo Independence Grounds yesterday, President Museveni said the economy-registered growth despite the impact of the Covid-19 pandemic.
He said the size of the economy has expanded 31 times since 1986, adding that Uganda is on the road to middle income status without revealing which year this will be realized.
According to Mr. Museveni, there are four steps needed to be undertaken to boost further economic growth and they include: Commercial agriculture to realize increased agricultural products, industrialization, the services sector and the Information Communications Technology to do the job.
He said there are four main markets for Ugandan products and they include: the internal domestic, the East African Community market, the Continental Free Trade Area and the global market among others. END.
