Uganda Economy and that of its people.
The Uganda economy is basically agricultural, and it occupies some four-fifths of the working population. Uganda’s moderate climate is especially congenial to the production of both livestock and crops. To simplify for you,just click on one of the following for more information on Uganda and its economy Agriculture,Forestry and Fishing Resorces and Power Manufacturing Transportation and Telecommunication As it is the case with most African countries, economic development and modernization have been enormous tasks that have been impeded by the country’s political instability.
In order to repair the damage done to the economy by the governments of Idi Amin and Milton Obote, foreign investment in agriculture and core industries, mainly from Western countries and former Asian residents, was encouraged. The 1991 Investment Code offered tax and other incentives to local and foreign investors and created the Uganda Investment Authority, which made it easier for potential investors to procure licenses and investment approval. The economy improved rapidly during the 1990s, and Uganda has been acclaimed for its economic stability and high rates of growth. It is one of the few African countries praised by the World Bank, the International Monetary Fund, and the international financial community for its economic policies of government divestiture and privatization and currency reform. Uganda has been particularly successful in soliciting international support and loans. In 1997 it was selected as one of the few countries to receive debt relief for its successful implementation of stringent economic reform projects and has continued to qualify for significant debt relief since then. Because of this, Uganda has been able to focus on eradicating poverty and expanding resource exploitation, industries, and tourism
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