Uganda’s economy on standstill

By Ssebuliba Samuel.

Experts have warned government on likely impact of extending deadline for oil production in Uganda.

Government had earlier put 2020 as the year for oil production, but this has been revised to 2023.

According to Paul Bagabo the country lead for National resource governance institute, this is likely to have immense negative impact on Uganda’s economy.

He said that government is now borrowing large sum of money expecting to repay using oil money, residents in Albatin region are on standstill expecting to be evicted, yet this is not forthcoming.

He said that the more oil production delay the more the economy get paralyzed and thus this anxiety needs to be solve now