M7’s prediction on economy growth unattainable

By Ritah Kemigisa.

The Chairman Kampala city traders association Evarist Kayondo has expressed fear that the economy will not be able to grow at the projected 5.8%.

During his state of the nation address, President YoweriMuseveni predicted that the economy would grow at 5.8% in the financial 2018/2019 and in 2019/2019 the growth would be at 7.1%.

According to Kayondo the current macroeconomic indicators are below the president’s predictions adding that the sectors which would highly contribute to this growth are being controlled by foreigners who are repatriating the profits made.

Kayondo says as much as Ugandans are not participating in the growth of the Gross Domestic Product, high chances are that the economy will not grow.