Economic situation in Uganda
By Kiwewa Faisal The year 2015 has been characterized by several economic factors, but it has been majorly the low global commodity prices and high interest rates from commercial banks. When the economies in Europe are not doing well, they reduce on spending when the demand for some commodities goes down, the prices fall. Some of these commodities include exports like coffee, cotton, tea and cocoa. And other hard commodities like Petroleum, metals, etc. 2015 was thus characterized by low commodity prices. The speculators had started putting up ware houses, amenities, and businesses in the Albertine region but when the oil prices went down the activity slowed down, government has however done some licensing so some investors are likely to come in next year, and some oil has also been discovered in Kanungu. The low oil prices would be advantageous to low developed economies that use oil machinery by reducing the cost of production, for example if one ha...