Newslex Point News in Uganda, Uganda news
According to the constitutional article 101(1), President Yoweri Kaguta Museveni has addressed the Ugandan nation today at the Serena conference Centre for how the government has performed in the year 2014-2015.
Check also: The highlights of Uganda Budget 2015 – 2016 financial year
His excellency has said since 2006 1627km have been added on 1427km over the electricity transmission in the nation of Uganda and only 4 districts don’t have electricity transmission now basing on the 33 districts that didn’t have the electricity transmission in 1986.
He also said that the country is generating 1974MW and expected to generate 4356MW in 2018 after the oil flow in Hoima district. The president said that the government has also boosted the ministry of works from 374 billions to 3328 billion since 2006 .
President normally takes long to address the nation!
The government has also invested 170 billion in the science innovation within the country. He has promised to even improve security more by introducing cctv cameras in the major towns beginning with Kampala and using the computerized identity cards.
He has said to capitalize the Uganda development Bank to reduce on the interest rates on borrowing money to 5% per annum after the privatizing of the Uganda commercial bank did not reduce the interest rate but increased to 21.1% per annum which is high compared to South Korea that has 3.4% interest rate per annum on borrowing money.
He said that by 2040 the country will be an upper middle income country and in a few years soon it will be a lower middle income country.
Check also;
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- How Rwanda And Burundi Became East Africa’s Bad Neighbors
- The Life Of Female Boxers In Uganda
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