The elect President Yoweri Kaguta Museveni has promised that Uganda will be a middle income country within the next five years a class where countries like Nigeria, Indonesia, Sri Lanka and Fiji are.
While giving his victory speech at his home Rwakitura, Kiruhura where he has been since the date of elections, President Museveni said that Uganda will embark on promoting Industrialization through protecting local producers and promised to put embargo on second hand clothes and shoes. He also talked about modernizing Agriculture which is still the backbone of Uganda’s economy. His plan included stopping of export of raw materials to make sure Uganda’s products are added a value before they are exported.
For a Country to be in the lower middle class income the country should be having the GDP Per Capita between $1,026 to $4,035 and Uganda so far has the GDP Per Capita of $742. This, that Uganda’s economy has to multiply by more than 60% in the next five years.
Uganda will be a middle income a country in 5 years-Museveni
