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Uganda Ranked 3rd Poorest Country In The World (Based On GDP)

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A report from focus-economics.com has ranked Uganda as the 3rd poorest country based on Gross Domestic Product (GDP) in the world.

GDP is one of the primary indicators of a country’s economic performance. It is calculated by either adding up the annual incomes of all working-age citizens or by totaling the value of all final goods and services produced in the country during the year. Per capita GDP is sometimes used as a standard of living indicator, with a higher per capita GDP equating to a higher standard of living.

“GDP per capita is often considered an indicator of the standard of living of a given country, as it reflects the average wealth of each person residing in a country. It is therefore the standard method used to compare how poor or wealthy countries are in relation to each other. With 2018 just under way, we decided to take a look at our forecasts for GDP per capita from 2018 to 2022 for the 127 countries we cover to get an idea of what countries are the poorest currently and which will be making a leap toward becoming wealthier in the coming years. The projections used in this study are Consensus Forecasts based on the individual forecasts of over 900 world renowned investment banks, economic think tanks and professional economic forecasting firms,” the website writes.

About Uganda, the report states, “Uganda finds itself in third place on the list with a 2018 projected GDP per capita of USD 738. Although this represents a large leap from the level of the first two on the list, Uganda is a bit of a strange case. Following the 1986 armed conflict, the ruling political party National Resistance Movement (NRM), enacted a series of structural reforms and investments that led to a period of significant economic growth and poverty reduction all the way up to 2010. In the last five years or so, economic growth has slowed and consequently so has the pace of poverty reduction. There are a variety of factors that have brought on the slowdown, however, it has been attributed mostly to adverse weather, private sector credit constraints, the poor execution of public sector projects and unrest in their neighbor South Sudan, which has flooded the country with refugees fleeing the country and subdued exports. According to the World Bank, if Foreign Direct Investment accelerates, the banking system stabilizes, and budgeted, capital spending is executed without delays, the economy may start to pick up once again, helping to reduce poverty.

Luckily for Uganda, it appears the FDI is indeed improving as it expanded by double digits in 2017, which bodes well for the economy and poverty reduction in the near future. The downside risk to the outlook is the weakness in the financial system, particularly the low level of credit in the private sector and the high cost of small loans. FocusEconomics panelists see growth of 5.4% in 2018 and 5.8% in 2019.” Below is the full list:

 

2018 Rank Country GDP per Cap 2018 (projected) GDP per Cap 2016 (Actual) 2016 Rank GDP per Cap 2022 (projected) 2022 Rank
1 DRC 468.2076 440.9842 2 631.9861 2
2 Mozambique 485.6679 383.1195 1 578.8407 1
3 Uganda 737.8687 694.2869 3 897.6487 3
4 Tajikistan 835.9737 806.0073 6 1085.773 4
5 Haiti 873.9934 705.3676 4 1153.522 5
6 Ethiopia 938.1304 883.8655 7 1253.024 6
7 Yemen 998.4961 761.088 5 1501.568 9
8 Uzbekistan 1025.504 2144.655 22 1646.637 10
9 Tanzania 1112.21 975.859 8 1362.394 7
10 Kyrgyzstan 1221.712 1080.689 9 1446.402 8
11 Myanmar 1432.801 1231.791 10 2134.979 15
12 Zambia 1461.506 1299.422 12 1665.591 11
13 Cambodia 1494.199 1268.826 11 1967.887 12
14 Pakistan 1609.103 1465.591 14 2004.865 13
15 Bangladesh 1618.685 1371.748 13 2374.252 18
16 CDI 1737.16 1517.963 15 2279.192 17
17 Kenya 1761.482 1557.898 17 2092.147 14
18 Ghana 1767.604 1539.536 16 2245.091 16
19 India 2174.133 1742.058 18 3087.243 21
20 Nigeria 2216.672 1975.526 20 2670.87 20
21 Nicaragua 2276.476 2151.236 23 2643.961 19
22 Egypt 2497.835 3689.49 34 3666.88 27
23 Vietnam 2566.532 2109.914 21 3412.303 23
24 Moldova 2616.058 1924.746 19 3511.613 24
25 Ukraine 2638.074 2169.044 24 3576.092 26
26 Laos 2689.059 2400.304 25 3535.01 25
27 Honduras 2834.203 2631.252 26 3157.905 22
28 Philippines 3164.74 2926.438 27 4378.544 31
29 Bolivia 3398.316 3113.914 29 4045.165 30
30 Morocco 3399.481 3011.579 28 3968.448 29
31 Tunisia 3552.575 3719.063 35 3864.81 28
32 Armenia 3941.751 3578.193 31 4908.447 35
33 Mongolia 3980.608 4075.311 41 5940.182 43
34 Algeria 4094.787 3903.194 38 4508.672 32
35 Indonesia 4109.704 3605.222 32 5439.364 39
36 Azerbaijan 4153.154 3507.727 30 5658.588 42
37 Georgia 4198.04 3946.083 39 5993.943 44
38 Sri Lanka 4282.559 3811.488 37 5544.294 40
39 Venezuela 4368.119 4778 48 4925.365 36
40 Iraq 4436.796 4547.616 46 5046.504 37
41 Kosovo 4495.335 3672.294 33 6024.757 45
42 El Salvador 4509.722 4226.656 44 5135.928 38
43 Paraguay 4516.276 3991.964 40 6169.961 46
44 Belize 4651.313 4630.585 47 4799.132 33
45 Guatemala 4703.326 4125.903 42 5548.938 41
46 Angola 4725.743 3721.601 36 4903.343 34
47 Albania 5192.632 4142.339 43 6824.766 50
48 Bosnia 5209.645 4517.359 45 6757.568 48
49 Jamaica 5374.142 4968.894 50 6209.366 47
50 Iran 5727.839 5231.508 52 7048.236 52
51 Jordan 5904.414 5541.111 55 6768.028 49
52 Belarus 5979.214 4914.952 49 7400.126 54
53 Macedonia 6112.687 5212.371 51 8016.382 56
54 Ecuador 6140.741 5966.118 57 6850.166 51
55 South Africa 6342.13 5335.191 53 7127.819 53
56 Colombia 6671.489 5800.91 56 7880.529 55
57 Serbia 6755.329 5446.652 54 9017.78 59
58 Thailand 6965.455 5969.76 58 8322.678 57
59 Peru 7049.746 6178.552 59 8361.598 58
60 Dominican Republic 7334.704 6766.407 60 9159.166 60
61 Turkmenistan 7456.266 6921.015 61 10311.37 62
62 Botswana 8512.711 7297.961 63 9574.504 61
63 Montenegro 8585.437 7022.697 62 10909.39 63
64 Bulgaria 9210.746 7507.744 64 12281.7 66
65 Kazakhstan 9374.124 7852.118 65 11848.74 65
66 Mexico 9706.379 8796.565 68 12668.89 67
67 China 9766.357 8103.066 66 13108.97 68
68 Brazil 10199.39 8720.176 67 11815.55 64
69 Turkey 10941.74 10805.09 73 14012.61 71
70 Costa Rica 10969.64 10666.89 72 13223.71 69
71 Malaysia 11093.39 9427.831 70 14580.94 72
72 Romania 11600.14 9510.628 71 16486.5 74
73 Russia 11664.74 8933.798 69 13570.09 70
74 Lebanon 12385.41 11292.64 74 15060.66 73
75 Croatia 14729.96 12230.22 75 18340.22 77
76 Argentina 14881.05 12507 77 17082.55 75
77 Hungary 15774.98 12822.99 78 20664.73 81
78 Panama 15793.39 14322.74 81 19630.67 79
79 Chile 15796.06 13585.68 79 19124.89 78
80 Poland 15953.16 12412.96 76 21438.44 82
81 Trinidad 16784.46 16091.78 84 20259.31 80
82 Oman 16848.18 16646.1 86 18020.52 76
83 Latvia 17590.22 14032.5 80 23129.31 83
84 Uruguay 18264.38 14942.53 83 23457.4 84
85 Lithuania 18955.37 14942.53 82 25487.88 87
86 Slovakia 19741.33 16549.46 85 25499.87 88
87 Greece 20600.22 17919.14 88 25042.87 86
88 Saudi Arabia 21814.52 20312.95 91 24865.64 85
89 Estonia 22408.15 17793.45 87 29662.79 91
90 Portugal 23472.93 19893.46 90 28456.84 89
91 Czech Republic 24150.93 18552.02 89 31987.27 94
92 Bahrain 25876.4 24305.31 95 29496.51 90
93 Taiwan 25950 22628.72 93 29862.84 92
94 Kuwait 26193.48 26231.85 97 30496.88 93
95 Slovenia 26332.4 21719.96 92 33070.55 96
96 Cyprus 27628.76 23702.83 94 33157.46 97
97 Brunei 27631.4 26958.03 99 32456.92 95
98 Puerto Rico 30785.55 30790.08 101 38609.33 99
99 Malta 31222.64 25368.66 96 39689.85 101
100 Spain 31684.34 26730.29 98 38722.39 100
101 Korea 32116.98 27534.89 100 38501.28 98
102 Italy 34964.68 30790.56 102 40963.66 103
103 UAE 35810.02 35378.11 103 40613.18 102
104 Japan 39326.88 39189.51 107 45250.71 104
105 New Zealand 42296.78 39075.31 106 47555.63 106
106 Israel 42605.59 37092.17 104 47541.27 105
107 United Kingdom 42712.54 40535.31 108 51243.24 107
108 France 43533.1 38236.2 105 51427.33 108
109 Hong Kong 47094.64 43544.18 112 55478.03 110
110 Canada 47584.47 42409.73 111 53768.91 109
111 Belgium 47980.08 41551.59 109 56380.1 111
112 Germany 49082.64 42270.89 110 59385.92 112
113 Finland 50559.41 43557.5 113 60133.76 113
114 Austria 52284.4 44907.32 114 62176.49 114
115 Netherlands 53339.85 45746.92 115 64251.35 115
116 Australia 57432.85 51899.34 117 66695.32 116
117 Singapore 58090.72 55163.19 119 67629.88 117
118 Sweden 58429.58 51480.74 116 73332.43 121
119 Qatar 59074.09 58211.29 121 72813.63 120
120 Denmark 60789.46 53907.48 118 71931.15 119
121 United States 62009.81 57607.78 120 70437.55 118
122 Ireland 77182.55 64907.43 123 93344.89 123
123 Iceland 77314.73 59523.81 122 95788.6 124
124 Norway 79214.45 70875.86 124 101150.4 125
125 Switzerland 82188.71 81245.83 125 90239.11 122
126 Luxembourg 117274.8 102230.9 126 136074.3 126

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I’m Going To Start A Bank Where We Lend People Without Asking For Land Titles Or Security – Pr. Bujjingo

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House of Prayers Ministries International (HPMI) senior Pastor Aloysious Bujjingo has told his congregation that he is soon going to start a bank where people can borrow freely without collateral.

During his ‘chapter 2’ sermon on Thursday, Bujjingo said that after the construction of 38,000 Pentagon seater church, he is going to start the battle to fight poverty by empowering Ugandans financially.

“I strongly believe that after the construction of Pentagon a 38,000-seater church, there is no reason why anyone among us should be poor,” Pr. Bujjingo Said.

Pr. Bujjingo declared that despite facing many detractors, who are trying hard to soil his name, he is ready to bless others because God has also blessed him. He said that he doesn’t want much from the world apart from fulfilling his calling of making sure that people are delivered both spiritually and physically.

He said that there are many educated people who are suffering because they lack opportunities to exercise their expertise.

“God has blessed us and many are educated among us, that’s why I have plans to establish a financial institution like a bank. Because so many here are accountants and you are teaching your children to be. I do not need to be an accountant but I need you who are accountants. I have declared it, those who want to fight against it, you can go head but God will establish it. We need to have a system of lending money to people without requiring land titles or any sort of security,” said Pr. Bujjingo who already employs hundreds of journalist, engineers, marketers and accountants under his Salt Media company.

He emphasized to the believers to avoid relying on gossip but work hard and listen to God if they want to triumph.

Bujjingo also dismissed social media allegations that he owns Canaan soda.

He Commended all the people who have stood with the ministry amidst the storm it has faced recently and the Salt Media audience who have persistently followed the message of the good news of the word of God.

By Doreen Menezer

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Uganda To Host Meeting On Natural Resources Management

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Uganda is to host the 1st great lakes and catchment management conference from the 5th to 7th June to discuss how the country can better utilize and manage natural resources to boost production and improve livelihoods.

Addressing a joint press conference to announce the conference, the organizing chairman Prof. Tenywa Moses expressed worries at the speed at which Ugandans are mismanaging the available natural resources namely, water, soil, forests, wetlands among others.

Prof. Tenywa further urged Ugandans to always use better preservation methods if the current resources are to be used over a number of years.

However, the commissioner water resources planning and regulation from the water and environment ministry, Dr. Callist Tindimugaya said that the amount of water in Uganda seems to be much but in actual sense it’s not enough, which has made it costly.

The experts warned that poor resource management by Ugandans will negatively impact on agriculture and other economic activities hence deter Uganda from attaining her desired attainment of the middle-income status.

At the forthcoming conference, scientists will be producing a number of researches on natural resources management in the country.

By Mboowa Nathan

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MTN WOES: Furious M7 Orders CMI, ESO To Kick Off Investigations Into The Relationship Between MTN GM Katamba And Jailed Police Boss Nixon Agasirwe

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Former MTN General Manager Anthony Katamba

President Museveni has ordered the Chieftaincy for Military Intelligence (CMI) and the External Security Organisation (ESO) to investigate the relationship between Former MTN General Manager
Anthony Katamba and jailed police boss Nixon Agasirwe.

Katamba fled the country to seek asylum in Scandinavian countries after receiving several security tip offs from some of his colleagues in security that he was going to be arrested for giving wrong information to security.

Multiple sources in CMI and Special Forces Command (SFC) have told the Grapevine that the president has relied on those reports to exonerate the deported MTN Chief Executive officer Wim Vanhelleputte.

“The president was very furious because he established from different security reports that he was fooled on the MTN matter. The president was very furious and instructed CMI commander Col. Abel Kanduho to immediately start investigating Katamba,” our source revealed.

The highly respected security operative told this website that Katamba, the former General Manager for Corporate Services at MTN was the one misinforming security agencies by giving them wrong information concerning some of his colleagues for his personal gain.

Our sources disclosed that when Katamba developed misunderstandings with top MTN management over some internal issues, he decided to malice and marline them before government and security officials that they were carrying out activities that were going to jeopardize national security. Katamba told these officials that MTN was being used to spy for one of the hostile neighbouring country. 

“That man Katamba thought that he is the big man in MTN because of his closeness to the MTN board chairman Charles Mbiire. He learnt of his dismissal from MTN and he vowed to fight and make sure all expatriates at the facility are deported. He boasted before his friends at Kampala club that he is the only top local employee in MTN,” another source added.

Security operatives told the Grapevine that Katamba even fed security with wrong information that led to the storming of MTN’s center in Mutundwe, a Kampala suburb.

Vanhelleputte was deported with three other senior managers who included; Chief Marketing Officer, Olivier Prentout, the Mobile Money General Manager Elsa Mussolini and General Manager for sales and distribution Annie Tabura. Vanhelleputta challenged his illegal deportation at the High Court civil Division.

KATAMBA PLACED IN AGASIRWE’S RACKET

Our sources further revealed that after reading various security reports on the MTN saga, the president established that there was a good relationship between General Kale Kayihura’s blue eyed boy SSP Nixon Agasirwe and Katamba. One of the well elaborated report to the president indicated that there were a lot of suspicious dealings which were going on between Katamba and Agasirwe. The investigators also based reports on the judgment of High Court anti-corruption Division judge Lawrence Gidudu, in the 2015 case of Richard Mwami and others, concerning the embezzlement of over 6 billion shillings. 

Sentongo (who was Mwami’s witness) testified that after arresting him, he was taken to a room at the Special Investigation Unit (SIU) in Kireka. Minutes later Agasirwe entered the room in company of Katamba. Sentongo testified that Agasirwe and Katamba told him to pin Mwami that he stole the Shs6bn, when he refused, he was brutally tortured.

Both Katamba and Agasirwe were later accused of torturing Sentongo.  Currently, Agasirwe is detained with other top police officers at Makindye barracks after being charged by the Court martial on espionage and kidnap charges. The president has tasked CMI to dig deeper into the dealings between Katamba and Agasirwe.

KATAMBA PINNED FOR STAGING AN ASSASINATION

Sources further told this website that one and half month’s back, Katamba reported to police that some people wanted him dead.

Katamba alleged that unknown gunmen attacked him at his Kiwatule home at around 3:00am. He stated that he escaped through the gate at the back of his house and narrowly survived being killed. Museveni also ordered the investigators to find out whether Katamba was attacked, who the attackers were plus their motive.

A source revealed that the president was briefed in the MTN security report that Katamba staged the alleged assassination to avoid being charged with espionage. He also wanted to use the alleged attack to seek asylum because he got information from his security friends that he was under investigation.

KATAMBA FLEES THE COUNTRY

Credible sources further told this website that two weeks ago, Katamba fled to Scandinavian countries. We were informed that Katamba is currently seeking asylum from one of the Scandinavian countries. We talked to Katamba’s friends who he usually spends time with at Kampala Club and Golf Course, they revealed that they have spent two weeks without seeing him.

“I have spent a week without seeing my friend Katamba, I don’t know whether he left the country,” one of Katamba’s friends, who we found at the Golf Course playground told us.

We tried to talk Katamba’s girlfriend but he refused to tell us the whereabouts of her hubby. We also tried to call Katamba’s known phone number but it was not going through.

By Jamil Lutakome

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