President Yoweri Kaguta Museveni has outlined Uganda’s economic priorities during a meeting with Abebe Aemro Selassie of the International Monetary Fund, stressing value addition, peace, and open markets as pillars of growth.
Museveni said Uganda must focus on adding value to its products to strengthen the economy. He emphasized that peace and security remain essential for sustainable development.
“I met Abebe Selassie of the International Monetary Fund and informed him that the correct line for Uganda is value addition, peace and security, and open markets,” Museveni said.
The President, however, pointed to structural challenges that require urgent attention. He cited high transport costs, expensive electricity, and the cost of borrowing as major constraints.
He also called for measures to discourage the externalization of profits. He said profits generated in Uganda should be reinvested locally to expand production and jobs.
“The center of gravity of our economy is agriculture and manufacturing, and we must deliberately support them,” Museveni stated.
He said deliberate support to agriculture and manufacturing will anchor Uganda’s long-term economic transformation.