Delayed oil revenues stifle middle income targets

By Damali Mukhaye

The delayed realization of oil and gas revenues has been cited as a major factor that is likely to hinder Uganda’s attainment of the 2020 development targets.

Patrick Birungi, the Director Development Planning at the National Planning Authority says it was anticipated that commercial oil exploitation would commence by the Financial Year 2018/19 but this is far from being achieved due to a number of infrastructural, logistical and policy hurdles.

He says that non-realization of this revenue means that some priority programs cannot be executed hence affecting the final targets.

Birungi also cites the increasing population as another factor asserting that despite an increase in Gross Domestic Product figures, GDP per capita has not grown that much due to an equally fast growing population at 3% per annum.