Ugandans have been asked to prepare for the worst economic situation as the Central Bank tries to control the impact of exorbitant government expenditure during the past elections.
According to Musa Lwanga a researcher at Economic Policy Research Centre, there was a lot of domestic borrowing by government and subsequent spending, which prompted Central Bank to use macro and microeconomic measures to control the likely inflationary tendencies.
Lwanga explains that what Uganda faces now is reduced private investment, less household income, less job creation all emanating from tough economic policies employed by central bank to contain the sagging economy.
According to the 2015-2016 Campaign Financing in Uganda report, released by the Alliance for Campaign Finance Monitoring, over Sh 2.4 trillion was spent during election time.
Story By Samuel Ssebuliba
