By Namugerwa Martha
The International Monetary Fund (IMF) has urged to Uganda to be more prudent to its management of the infrastructure projects as a root that will increase on Uganda’s economic growth.
While discussing about the latest World Economic and Financial Survey’s Regional Economic Outlook for Sub Saharan Africa in Wandegeya, Kampala on Thursday, Clara Mira, the representative of the IMF in Uganda said that the power of increased investment in infrastructural development across the country like construction of roads and railways will accelerate Uganda’s economy to about 5 percent in the 2017/18 financial year and could reach 6.5 percent in the next four years.
“The Works and Transport docket is taking a lion’s share of the budget for 2017/2018 financial year with an allocation of more than Shs4 trillion going towards major infrastructure development projects such as roads and the railway which is good for Uganda’s economy,” Mira said.
She added that the government should have a bank of ready to implement projects with a clear financing model and management in order to enhance the Sub Sahara Africa economic growth which is too low in order to put the region back on a path of rising living standards.