Economists doubtful about economic growth projections
By Moses Ndhaye
A section of local economists has poked holes in the over 40 trillion shilling budget read yesterday by finance minister Matia Kasaija will not address the country’s sticking issues such as unemployment.
The 2019/20 budget shot up from 32.7trillion shillings to 40.5trillion shillings in the just ending financial year.
According to senior development economist Dr.Fred Muhumuza, although the economy is projected to grow at a rate of 6%, majority of the population will not benefit from this growth.
He says this is because, the industries being created are not creating the 600 jobs which the country needs to create annually.
He says what is required is to ensure that emphasis is put on the agriculture sector which employs 70% of the population,
Dr Muhwumuza was speaking a post budget breakfast meeting organised by Ernst and Young
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