Museveni Says Uganda Will Not Control Soaring Living Costs
Via Vanguard

Museveni Says Uganda Will Not Control Soaring Living Costs

Ugandan president Yoweri Museveni says his government will not intervene in the current economic situation amid rising living costs.

Prices of petroleum products, imported raw materials and food have been rising in recent months, a crisis being experienced globally following the war in Ukraine.

In a televised national address on Sunday night, Mr. Museveni said that government subsidies or removal of import taxes to control the living costs would collapse the economy.

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He added that there would be a hemorrhage of dollars from the national reserves for the purchase of those expensive products.

Mr. Museveni said Uganda will need to frugally use the imported items it can afford.

He advised citizens to substitute expensive wheat with locally available food such as millet, maize, green bananas and cassava.

Most of Uganda is highly productive and many families depend on subsistence agriculture.

But even the prices of locally produced food have been rising especially in urban areas, driven up by transportation costs.

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