President M7 : Many people do not know how the economy grows, although many pass themselves out as “experts”

These investments in the roads and electricity, along with the earlier decision (2001) of strengthening the Army, are beginning to result in the resumption of our usual high growth rates which had been interfered with by the shortage of electricity and, more recently, the drought.

“This year, for instance, the economy will grow by 5.8% per annum. This will rise to over 7% per annum by the financial year 2019/2010. Indeed, a Centre at Harvard, in the USA, recently predicted that Uganda will be one of the fastest growing economies in the world by 2026 or thereabout.

“I was not surprised by that prediction. What surprised me was that Uganda would be the first or the second fastest growing economy in the whole world. The fact that our economy would grow fast, however, was not surprising for me given the deliberate steps we have taken to lay the foundation.”

Excerpts from my State of Nation Address today at the Serena Conference Centre.

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