President Yoweri Museveni has assured that Uganda’s economy will grow into double digits when the country starts producing its oil.
“After June (this year), our economy will grow by 7.3 percent without oil. That’s a high growth speed; very few countries can achieve that. With oil, our rate of growth will go into double digits; more than 10 percent,” he said.
The President made the remarks today during the 44th Tarehe Sita Anniversary celebrations at Kasasa Township Grounds in Kyotera District.
The celebrations ran under the theme: “Celebrating Pan African Solidarity and People’s Sacrifice in the Struggle for Freedom and Democracy for Socio-Economic Transformation”.
Tarehe Sita is observed annually on 6th February, and it is a symbol of the founding of the people’s army. The day commemorates the heroic efforts of the founding fathers and the people’s revolution.
The President noted that the economy of Uganda is growing progressively, all in the account of the five phases that the economy and society have gone through since 1986.
