The return on investment resulting from public borrowing is not creating enough economic activities that can generate revenues to pay back the country’s debt.
For now, the government continues to watch the space unravel although the Ministry of Energy expects consumers to get a relief each time there is stability in the market.
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Daily Monitor
Wednesday May 12 2021
Government has been slowly taking back control of key sectors of the economy after an attempt to create a private sector led economy has not created sufficient growth. PHOTO/FILE
Summary
Elements of policy reversal such as creation of an investment agency under Uganda Development Corporation and now the establishment of Uganda Airlines, which is 100 per cent government-owned suggest a shift from hard-core liberalism that government had adopted in the late 90s and onwards until the late 2019s.
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Well, some historians and politicians, including Prof Yash Tandon, have argued differently.
In his book - Common People’s Uganda - Prof Tandon argues that President Museveni only used Marxism as an excuse to rally a power grab but never understood its workings and was quick to abandon his idealism at the slightest challenge by capitalist frontiers.