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Wednesday, November 30, 2022

Gov’t prioritizes livelihood, economic recovery in FY 2022/2023 budget

For over two years now, the livelihood and economic growth globally have widely been hampered by Covid-19 Pandemic compounded with the recent war in Ukraine.

This has since not only caused shortages of many commodities across the globe but also created high demand for various agricultural products.

“Before the global destabilization by Covid-19 and the Ukrainian war, Uganda was a country of surpluses that we were crying out for markets for maize, milk, chicken, soap, cement etc. This global crisis represents Uganda with plenty of opportunities,” President Yoweri Kaguta Museveni said recently during the 2022 State of the nation address held at Kololo Independence grounds.

To ensure fast livelihood revival and economic recovery plans, government has highlighted seven top sectors to be considered as key and strategic in the forthcoming financial year of 2022/2023.

The sectors are; agriculture, health, education, trade and industry, social development, works and energy.

The strategy aims to increase household productivity, jobs creation, reducing the health impacts of Covid-19, supporting poverty reduction efforts, promoting exports and enhancing economic growth.

Accordingly, the National development plan targets to achieve key results in the new financial year as per the government projection.

This includes the following; raising per capita income from USD 936 to USD 1049, improvement of quality of life, revitalizing businesses and livelihoods that had been disrupted.

Government further intends to engage in the improvement of productive infrastructure including ICT to digitalize the economy, energy reliability, affordability, effective transport development and maintenance.

The government will also fast- track the national health insurance policy and the national ambulance systems to reduce on the cost of medical services.

 

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