According to the Performance of the economy monthly report for March 2024,the Ugandan shilling traded at an average mid-rate of Shs 3,895.8/USD in March 2024 from Shs 3,873.6/USD in February 2024,and thus a depreciation of 0.6%.
This is a slowdown from the depreciation of 1.8% that was registered from February 2024,implying that the temporary shock the shilling experienced between January 2024 and February 2024 due to some portifolio investors opting to exit the Ugandan market for Kenya where the yields were higher has started to abate.
In the external sector,Uganda's export earnings during February 2024 increased by 12.0% to USD 633.00 million from USD 565.40 million in January,2024. This increase was mainly due to higher earnings from non-coffee formal exports such as gold,cotton,simsim,flowers & oil re-exports.
Bank of Uganda (BoU) has increased its interest rates for the second straight month from 10% to 10.25%. The highest point in 7 years. Particularly intended to arrest inflation and manage the depreciation of the shilling.
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My new @TaxNotes column "A UN Tax Body Made for you and Me" is out today and discusses issues related to voting rights, transparency, the decision making process and governance in a proposed UN Tax Body.
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This means no new recruitments will be made across Government in FY 2023/24, except on a replacement basis, with evidence that positions to be filled have provisions in the budget FY 2023/24. Cant the Government make an exception for critical sectors like Health & Education??
While issuing Fiscal Policy Guidelines for FY2023/24. Ministry of Finance guided that salary enhancements be suspended for a year. Implementation of salary enhancements will only resume in FY 2024/25.
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Recently ActionAid International Uganda in partnership with other civil society organizations with support from @FordFoundation held the National Citizens Integrity Awards. Here is a brief highlight video. Let's champion integrity!
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The decision to available funds to enable the deployment of the medical interns is good. But a sustainable solution is needed, includes enforcing Presidential directive that put allowance at UGX2.5m. It's like Government has learnt nothing and forgotten nothing #AskQuestionsUg
The directive by the President @KagutaMuseveni was clear that intern doctors shold earn 2.5M gross and a net of about 1.8M but again we thank @MinofHealthUG for coming out to #DeployMedicalInterns & hope @mofpedU will find the money required to pay interns & Senior House Officers
This is first good step, but more needs to be done. A more deliberate move to generally improve the welfare and wellbeing of medical interns, and other key health workers across the sector. The future of our health system and lives of Ugandans depends on this! #AskQuestionsUg
We thank @MinofHealthUG for ensuring that Interns are finally deployed. Medical Interns are a strong pillar in the Health workforce.
There’s need to ensure there’s continued flow and deployment of Medical interns upon completion of their Medical school studies.
@MinofHealthUG Press release on deployment of Medical Interns. Government will deploy 1,901 Medical Interns at a net allowance of UGX 1 million. They are expected to report by 3rd August, 2023. @actionaiduganda What's your say?? @TheUMAofficial#AskQuestionsUg
Striking revelations about the plight of Intern doctors and senior house officers following our Twitter Space on 27th July. We keep asking ourselves, where is Government's priority?? Meanwhile other sectors received exhorbitant allocations #AskQuestionsUg