Uganda’s Economic Progress and Regional Integration: Museveni’s Vision.
President Yoweri Museveni of Uganda presented an optimistic outlook on the country’s economic trajectory, asserting that Uganda is on the right track despite occasional missteps by some actors. Speaking at the Kololo Independence grounds, Museveni emphasized that Uganda’s strategic position and robust foundations ensure its unstoppable progress.
“Uganda’s economy is moving forward, mistakes by some actors notwithstanding. Given our correct position, we are unstoppable as everything is in place,” Museveni declared during his televised state of the nation address attended by MPs predominantly from the ruling NRM party, members of the diplomatic corps, accounting officers, religious and traditional leaders, among other stakeholders.
The state of the nation address serves as a platform for the president to review the country’s economic, political, and social developments over the past year, and to outline forecasts for the upcoming year. During this address, Museveni highlighted the remarkable growth of Uganda’s economy, which has expanded from $1.5 billion in 1986 to $55 billion by the forex exchange method, and $180.29 billion by the purchasing power parity (PPP) method. This significant growth has positioned Uganda within the lower middle-income status bracket.
President Museveni also addressed foreign interference in Uganda’s internal affairs, dismissing it as inconsequential. “The foreigners interfering in our internal affairs, are not a threat at all,” he asserted confidently. Museveni credited the National Resistance Movement (NRM) government with accurately diagnosing Uganda’s challenges since 1986, which has spurred the country’s accelerated economic growth.
“NRM has correct philosophical ideological and positions. That is why the economy is growing in spite of the betrayal by the parasites. With the crushing of the corruption, Uganda, given our overall correct positions, is unstoppable. Everything else is in place,” he proclaimed.
Emphasis on Regional and Continental Integration
However, Museveni cautioned that Uganda’s achievements would be undermined if East Africa and the African continent failed to integrate economically to create larger markets for their goods and services. He stressed the necessity of regional cooperation to absorb surplus production. “When wealth creators get serious with production, when they increase the production of goods and services, the internal market is no longer enough. We need the East African market, we need the African market and we need the global market,” he explained.
Illustrating this point, Museveni noted that Uganda’s sugar production has surged to 600,000 metric tonnes per year, while domestic consumption is only 380,000 metric tonnes. Similarly, Uganda produces 5.3 billion litres of milk annually, but local consumption stands at just 800 million litres. Cement production has also increased to 6.4 million metric tonnes, yet internal demand is merely 2.4 million tonnes.
This production surplus underscores the importance of regional integration, according to Museveni. He pointed out that East and Central Africa, particularly the COMESA region, are significant markets for Uganda’s excess goods, purchasing goods and services worth $2.157 billion from Uganda. “Who will buy all this surplus? The answer for all these questions is that it is mainly East and Central Africa that are buying the surplus,” Museveni stated.
He praised the NRM for its commitment to patriotism and Pan-Africanism, opposing parochialism and Euro-centrism, which have facilitated Uganda’s economic strategy. “After the careful analysis, we realized that our prosperity, first and foremost, needed patriotism and Pan-Africanism,” Museveni said.
Strategic Market Expansion
Museveni emphasized the importance of securing regional markets before pursuing global market access. “We access other markets in addition, but let us secure these two levels first. This is why we worked so hard to revive the EAC and consolidate COMESA,” he elaborated.
With a more united regional market, Africa can then negotiate more effectively with global powers such as the European Union, the USA, China, Russia, the Gulf, and India. Museveni’s vision underscores the need for continued regional cooperation and integration to sustain and enhance Uganda’s economic growth.
President Museveni’s state of the nation address highlighted Uganda’s economic progress and the pivotal role of regional integration in sustaining this growth. By focusing on internal stability and strategic regional cooperation, Museveni envisions an unstoppable trajectory for Uganda’s economy, poised to benefit from both regional and global markets.