Uganda’s Museveni to address nation on current economic situation

Ugandan President Yoweri Museveni (L) arrives at the Uganda-Turkey Investment summit at the Munyonyo Speke Resort in Kampala, Uganda, on May 12, 2022. (Photo by Badru KATUMBA / AFP)
Ugandan President Yoweri Museveni (L) arrives at the Uganda-Turkey Investment summit at the Munyonyo Speke Resort in Kampala, Uganda, on May 12, 2022. (Photo by Badru KATUMBA / AFP)

Ugandan President Yoweri Museveni is scheduled to address the nation on Sunday on the current economic situation in the country.

The address comes as the country faces economic challenges attributed partly to the COVID-19 pandemic and the conflict in Ukraine.

Like many countries globally, the East African nation has seen a rise in the cost of living, with prices of basic commodities shooting upwards in response to scarcity and an increase in cost of production.

Just last week, reports emerged of planned protests against rising price of commodities and cost of living.

Despite a fuel inflation and its spillover effects, the Ugandan government has been hesitant on subsidies and other interventions. According to the Daily Monitor, it has instead recommended varied belt-tightening measures.

Earlier this month, President Museveni urged Ugandans to opt for cassava if they could no longer afford bread due to the spike in prices.

He also urged Ugandans to substitute imports with locally produced goods.

This, for many, was an indicator of the government’s endorsement of belt-tightening measures.

Experts expect Museveni’s Sunday address to focus largely on ways to survive the tough economic times and ways through which the government can ease the pressure.