{"id":25278,"date":"2022-01-26T20:10:23","date_gmt":"2022-01-26T20:10:23","guid":{"rendered":"https:\/\/www.africa-press.net\/uganda\/?p=25278"},"modified":"2022-01-26T19:44:49","modified_gmt":"2022-01-26T19:44:49","slug":"uganda-to-reach-middle-income-status-by-2023-says-museveni","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/uganda\/all-news\/uganda-to-reach-middle-income-status-by-2023-says-museveni","title":{"rendered":"Uganda to reach middle income status by 2023, says Museveni"},"content":{"rendered":"

Africa-Press – Uganda. <\/strong><\/span>With Uganda\u2019s economy fully reopened from January 24, President Museveni Wednesday assured the nation that the country will strike above the middle income status GDP per capita minimum of $1, 030 by 2023.<\/p>\n

\u201cWe want Uganda to be a high not middle income status- which we shall achieve for sure in one or two years,\u201d he said.<\/p>\n

Even as the International Monetary Fund (IMF) Tuesday slashed its 2022 global GDP forecast to 4.4% Mr Museveni on Wednesday further projected that \u201cin July 2022, Uganda\u2019s GDP per capita will be very near to $980.\u201d<\/p>\n

Aware of the obstacles to reaching this fit, Mr Museveni notes that there should be accelerated efforts in major economic sectors like Agriculture, ICT, Service and Tourism.<\/p>\n

\u201cWe cannot go on talking about this minimalist approach. We must take advantage of the full potential of Uganda\u2019s economy by exploiting the four sectors of wealth creation,\u201d he reasoned.<\/p>\n

Under his 36-year presidency, Mr Museveni said the economy expected to be at S44billion in July 2022- has expanded 29 times from a lowly $1.5billion in 1986.<\/p>\n

\u201cWe have been developing in spite of a growth in human population from 14million in 1986 to 44.2million people in 2022,\u201d he told a gathering at Kololo Independence grounds during Liberation Day celebrations.<\/p>\n

Regarding excessive agricultural production, President Museveni touted a new bill.<\/p>\n

\u201cWe need more and we shall be able to market them either in Uganda or in the region or internationally. The law is being worked on to force petrol companies to mix petrol products with 20-25% of ethanol produced from our surplus maize or sugar and we shall knockout a big amount on the import bill,\u201d he echoed.<\/p>\n

With almost all Covid-19 restrictions now lifted, Mr Museveni argued that if all Ugandans woke up, the nation\u2019s economy would rather be more than $586billion by July 2022 instead of Shs44billion.<\/p>\n

\u201cYou find some areas of Uganda which are already in high income level for instance the group near Fort Portal City that\u2019s now earning Shs240m (about $66,000) per year from just over 1 acre of land,\u201d he said expressing disagreement with \u201cour planners that keep talking of a 7% growth.\u201d<\/p>\n

With Uganda currently eyeing new areas of the economy including the automotive and pharmaceutical industries, Mr Museveni is now warning public officials.<\/p>\n

\u201cI\u2019m normally polite and hoping that people especially the leaders will pick by themselves but this time I\u2019m going to be rude because we are wasting time,\u201d the 77-year-old political veteran said.<\/p>\n

President Museveni announced that he will Thursday launch the Parish Model, an ambitious social-economic transformation agenda that government expects to generate recipients \u2013through private sector interventions- over Shs100million annually.<\/p>\n

For More News And Analysis About Uganda<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Uganda. With Uganda\u2019s economy fully reopened from January 24, President Museveni Wednesday assured the nation that the country will strike above the middle income status GDP per capita minimum of $1, 030 by 2023. \u201cWe want Uganda to be a high not middle income status- which we shall achieve for sure in one […]<\/p>\n","protected":false},"author":84,"featured_media":25277,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,7,8,12],"tags":[233,240,234],"class_list":["post-25278","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-head-lines","category-homepage-english","category-policy","tag-africa-press","tag-africa-press-uganda","tag-uganda"],"yoast_head":"\nUganda to reach middle income status by 2023, says Museveni - Uganda<\/title>\n<meta name=\"description\" content=\"With Uganda\u2019s economy fully reopened from January 24, President Museveni Wednesday assured the nation that the country w ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/uganda\/all-news\/uganda-to-reach-middle-income-status-by-2023-says-museveni\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Uganda to reach middle income status by 2023, says Museveni\" \/>\n<meta property=\"og:description\" content=\"With Uganda\u2019s economy fully reopened from January 24, President Museveni Wednesday assured the nation that the country w ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/uganda\/all-news\/uganda-to-reach-middle-income-status-by-2023-says-museveni\" \/>\n<meta property=\"og:site_name\" content=\"Uganda\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2022-01-26T20:10:23+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/uganda\/sites\/34\/2022\/01\/img-61f1a485464ab.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"720\" \/>\n\t<meta property=\"og:image:height\" content=\"480\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/uganda-to-reach-middle-income-status-by-2023-says-museveni#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/uganda-to-reach-middle-income-status-by-2023-says-museveni\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/uganda\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Uganda to reach middle income status by 2023, says Museveni\",\"datePublished\":\"2022-01-26T20:10:23+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/uganda-to-reach-middle-income-status-by-2023-says-museveni\"},\"wordCount\":458,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/uganda-to-reach-middle-income-status-by-2023-says-museveni#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/uganda\/sites\/34\/2022\/01\/img-61f1a485464ab.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Uganda\",\"uganda\"],\"articleSection\":[\"all news\",\"head lines\",\"homepage-english\",\"policy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/uganda\/all-news\/uganda-to-reach-middle-income-status-by-2023-says-museveni#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/uganda-to-reach-middle-income-status-by-2023-says-museveni\",\"url\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/uganda-to-reach-middle-income-status-by-2023-says-museveni\",\"name\":\"Uganda to reach middle income status by 2023, says Museveni - 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