Ugandans’ Obsession with Travel Abroad, Imports Blocking Middle Income Status Goal – Museveni
Imports Blocking Uganda's Way to Middle Income Status
Importing more and exporting less is one of the factors delaying Uganda’s middle income status, President Yoweri Museveni has said.
Uganda had set a target of attaining middle income status by 2020.
It is 2018 and Uganda’s GDP per capita is US$776 and yet the cut off income figure for the middle income status is at least, US$1,006 per capita.
“The main problem here is, actually, the problem of Uganda importing too much and exporting little.,” said Museveni while delivering his 2018 state of the nation address at the Kampala Serena Hotel on Wednesday.
“This money [cut off minimum for middle income status] is calculated in Dollars. Too much importing and too little exporting undermines the progress to a middle-income status.”
To attain middle income status, president pleaded with Ugandans to stick to local products.
“Ugandans, please, buy Ugandan; travel Ugandan; health-wise, be treated in Uganda. The government will facilitate its part as outlines in this speech.”
Museveni explained that buying local products would “create wealth and jobs for the Ugandans as well as widening the tax base for the State of Uganda”.
“At the same time, this bigger economy provides more goods and services for Uganda’s domestic consumption and for exports.”
Museveni further explained his government’s attempt to hunt for market for Ugandan goods.
Your NRM, always looking ahead, has already negotiated and arranged with our brother and sister Africans to ensure the market integration of Africa (EAC, COMESA, CFTA), so as to provide capacity for the absorption of the greater supply of goods and services produced by the Ugandans awakened to realize their potential as we also buy from our brothers and sisters in Africa, as we all take advantage of the huge collective market of Africa.
Besides the huge continental market we are creating with our African brothers, the NRM always never missing in action when it comes to African issues, we have also negotiated for third party market access to the USA, EU, Chinese, Japanese and Indian markets, in varying degrees.
Hence, ladies and gentlemen, the NRM has addressed or is addressing all the factors that are necessary to open the gates to the Ugandans engaged in wealth and jobs creation. Let everybody, then, play his or her own part.