{"id":4397,"date":"2012-12-04T17:05:04","date_gmt":"2012-12-04T14:05:04","guid":{"rendered":"http:\/\/www.kfm.co.ug\/?p=4397"},"modified":"2012-12-04T17:05:04","modified_gmt":"2012-12-04T14:05:04","slug":"aid-cuts-could-affect-economymutebile","status":"publish","type":"post","link":"https:\/\/www.kfm.dembefm.ug\/staging_h\/aid-cuts-could-affect-economymutebile\/","title":{"rendered":"Aid cuts could affect economy:Mutebile"},"content":{"rendered":"<p><a href=\"http:\/\/www.kfm.co.ug\/wp-content\/uploads\/BOU-Governor-Mutebile1.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-4398\" title=\"BOU Governor Mutebile\" src=\"http:\/\/www.kfm.co.ug\/wp-content\/uploads\/BOU-Governor-Mutebile1.jpg\" alt=\"\" width=\"290\" height=\"174\" \/><\/a><\/p>\n<p>The Governor of Bank of Uganda Emmanuel Tumusime Mutebile has warned of a possible reduction in the country\u2019s economic growth rate as a result of the aid cuts by different donors.<\/p>\n<p>According to Mutebile, the aid cuts will reduce the potential growth rate of the economy by about 0.7%.<\/p>\n<p>The European Union, the World Bank, the UK, Ireland, Austria and other countries have suspended up $300 million, earlier promised in budget support.<\/p>\n<p>Announcing the Central Bank Rate for the month of December, Mutebile asked government to cut down on its expenditure in a bid to mitigate the problem;<\/p>\n<p>Mutebile said it\u2019s too early to tell what will happen, but adds that government will have to choose areas where expenditure will be reduced.<\/p>\n<p>Meanwhile, Bank of Uganda has made its last cuts in the Central Bank Rates for the year, \u00a0putting the rate at 12 percent.<\/p>\n<p>The previous rate stood at 12.5% .<\/p>\n<p>The bank\u2019s forecast for core inflation is that it will stabilize at around five percent over the next 12 months.<\/p>\n<p>Last week the Uganda Bureau of Statistics reported an increase in inflation to 4.9 percent for the Month of November, up from up 4.5 percent in October.<\/p>\n<p>&nbsp;<\/p>\n<p>However, the Governor Tumusime Mutebile says he does not expect any further increase in inflation this year.<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Governor of Bank of Uganda Emmanuel Tumusime Mutebile has warned of a possible reduction in the country\u2019s economic growth rate as a result of the aid cuts by different donors. According to Mutebile, the aid cuts will reduce the potential growth rate of the economy by about 0.7%. The European Union, the World Bank, the UK, Ireland, Austria and other countries have suspended up $300 million, earlier promised in budget support. Announcing the Central Bank Rate for the month of December, Mutebile asked government to cut down on its expenditure in a bid to mitigate the problem; Mutebile said it\u2019s too early to tell what will happen, but adds that government will have to choose areas where expenditure will [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":4398,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"episode_type":"","audio_file":"","cover_image":"","cover_image_id":"","duration":"","filesize":"","date_recorded":"","explicit":"","block":"","filesize_raw":"","jnews-multi-image_gallery":[],"jnews_single_post":[],"jnews_primary_category":[],"jnews_social_meta":[],"jnews_override_counter":[],"footnotes":""},"categories":[3,7],"tags":[],"class_list":["post-4397","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-news"],"_links":{"self":[{"href":"https:\/\/www.kfm.dembefm.ug\/staging_h\/wp-json\/wp\/v2\/posts\/4397"}],"collection":[{"href":"https:\/\/www.kfm.dembefm.ug\/staging_h\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.kfm.dembefm.ug\/staging_h\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.kfm.dembefm.ug\/staging_h\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.kfm.dembefm.ug\/staging_h\/wp-json\/wp\/v2\/comments?post=4397"}],"version-history":[{"count":0,"href":"https:\/\/www.kfm.dembefm.ug\/staging_h\/wp-json\/wp\/v2\/posts\/4397\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.kfm.dembefm.ug\/staging_h\/wp-json\/"}],"wp:attachment":[{"href":"https:\/\/www.kfm.dembefm.ug\/staging_h\/wp-json\/wp\/v2\/media?parent=4397"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.kfm.dembefm.ug\/staging_h\/wp-json\/wp\/v2\/categories?post=4397"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.kfm.dembefm.ug\/staging_h\/wp-json\/wp\/v2\/tags?post=4397"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}