{{Uganda’s President Yoweri Museveni Thursday Delivered an assessment of the country’s economy, promised a year of action and talked down concerns about the future of the nation raised by the Opposition.}}<\/p>\n
In his State-of-the-Nation address, Mr Museveni said his government will continue to invest heavily in the agricultural sector and revealed how poverty in the country has declined to record levels despite challenges.<\/p>\n
\u201c Consequently, the proportion of people living below the poverty line has further declined from above 56 per cent in 1992 to 24.5 per cent percent in 2009\/10; and now to 19.7 per cent in 2012\/13,\u201d he said.<\/p>\n
Adding: \u201cUganda has, therefore, already surpassed the first Millennium Development Goal target of halving the proportion of the population living in extreme poverty by 2015. <\/p>\n
Some parts of the country have got even better performance figures. When the other areas catch up, Uganda will enter the Middle Income status.\u201d<\/p>\n
He promised to tackle persisting economic disparities between the well off and poor with a series of initiatives in the four priority sectors: agriculture, industry, services and ICT, which he said are key to lead to wealth creation and access to employment. <\/p>\n
Highlighting the economic progress, Mr Museveni said the size of the economy currently stands at Shs63.3 trillion ($25.3billion), indicating an increase of 5.7 per cent in the current financial year.<\/p>\n
However, the President also observed that the instability in South Sudan and unfavourable weather conditions had impeded faster economic growth. <\/p>\n
NMG<\/p>\n","protected":false},"excerpt":{"rendered":"
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