MPs question BoU’s recent projection of economic growth figures
Members of Parliament sitting on the National Economy Committee are not satisfied with the figures submitted by the Central Bank indicating that Uganda’s economy grew by 6.8%.
The MPs are wondering why the growth is not reflected in the lives of the average Ugandan whose purchasing power is seen reducing every day.
This was during a meeting held between the Committee and Central Bank officials who had been summoned to update Parliament on Uganda’s economy and indebtedness.
During the presentation, the Deputy Governor Bank of Uganda Dr. Michael Atingi-Ego, said that the Ugandan economy had shown signs of resilience despite numerous shocks.
However, Bugabula North MP John Teira wondered why many shopping malls and arcades remained empty if that was the case.
The figures are so amazing but as representatives of the people whose economic state we are very much aware of are failing to put a direct relationship between the improved figures and the real experiences of the people. Their purchasing power keeps dropping every day,” Teira said on Wednesday.
Bokora East MP, Peter Ken Lochap also wondered whether Karamoja sub-region was part of the growth being reported by the Bank of Uganda.
