SONA2024, Uganda Has Now Entered Lower Middle Income Status-President Museveni

The President of the republic of Uganda has assured Ugandans that Uganda has just entered the middle income status, currently on the lower ground. The president revealed this while delvering his state of the nation address to Kololo ceremonial grounds in Kampala.

''There are, however, still some trade barriers in the East African Community and these are hindering our development. I urge the community to remove these bottlenecks so as to have one common [African] market. And with this, we can be able to convince other countries to work with us as a continent''.He said.

Now, we are entering the 5th phase where we apply the science of our young people to produce products. These measures have enabled the economy to grow from USD 1.5 billion in 1986 to USD 55 billion by the foreign exchange method and USD 180 billion by the purchasing power parity method- President Museveni noted.

Prosperity could only come from each adult producing a good or service sustainably and selling it. If he or she does so while maximizing profit, they will be prosperous- President Yoweri Museveni

''Uganda has now entered the first lower Middle Income level due to the hard work of Ugandans'' President Museveni revealed.

Africa continually faces challenges because they make mistakes on philosophy, ideology, and strategy 

'' We insist that for us to get out of poverty, we need Uganda, East Africa, and Africa because if they buy what we produce, we are going to be prosperous, and if we also buy what they produce''.He said.

The President said, "Despite economic shocks, 60% of households saw income increases by December, up from 43% last year, thanks to government infrastructure investments and wealth creation initiatives".

The correct ideology and the correct strategy for NRM, the world has got a lot of problems, Africa has got a lot of problems, because they make mistakes on philosophy, ideology and make mistake on strategy. The correct philosophy, ideology and strategy of NRM have enabled the economy and society of Uganda to go through five phases since 1986. Internally, we have guided our people that the socio-economic transformation can be realized through; education for all, and prosperity for all, by joining the four money making sectors- President Musevi quoted

The Preident noted that Government will not allow giving loans to Imorters of perfumes and dead people's Clothes. ''I cant give soft money to somebody to import dead people's clothes and import perfumes, Whiskey No''. The Uganda Development Bank money is for-manufacturing, agriculture and for some of the services. If you want to import perfumes, go to the commercial banks-President 

We don’t give loans to importers of perfumes, and dead people’s clothes. I was having a big discussion with them here. I can’t give soft money to somebody to import dead people’s clothes and import perfume, whiskey. No. the Uganda Development Bank money is for-manufacturing, agriculture and for some of the services. If you want to import perfumes, go to the commercial banks. President Museveni advised.

He has advised the East Africans insist on full free trade in the East Africa Community area and eventually, in the whole Africa continental free trade area. This is the second task of the Ugandan wealth creators, struggle for a completely free common market for East Africa and Africa-President.

The President has said that what he has been hearing in parliament, now he has proof and he is to deal with all the corrupt.

He warned all public servants who are corrupt that he is going to crush them.