Economy to stabilize after 5 months

The economy is likely to stabilise from its current turbulence after about five months.

Finance Minister Matia Kasaija last evening told parliament that the economy is facing huge challenges, adding that the government is working to ensure it stabilizes.

He however downplayed fears of a recession following the cancellation of loans by the World Bank, election & post-election anxiety as well as geopolitical conditions as major constraints.