----Original Message Follows---- From: "Jack Stevens Alecho-Oita" <[EMAIL PROTECTED]> Uganda $1bn wealthier Date: Fri, 2 Jan 2004 03:01:44 -0000 Dear Netters I have made a rough re-calculation of Museveni's claims that Uganda is now $1bn richer, as follows: By 1980 Uganda owed some $700 million, which by 1986 had risen to $1.4bn. Over 5 years of Obote II, is an average debt burden increase of some $125m per year. By interpolation, if UPC remained in power by November 2003 and continued to borrow from external agencies to support government finances, Uganda would be only �1.98bn poorer. Under Museveni economic wizardry, by November 2003, Uganda owed some $3.96bn. Given the 17 years of his NRA-military rule, this is an average increase of $150m per year. If this is compared with UPC performance over the same period, by interpolation, Museveni has impoverished the country by $2bn. At the advent of NRA-military rule in 1986, each Ug anda owed $77.5 to foreign agencies, and by November 2003 this stood at $150. By interpolation, Museveni has increased the debt of each Ugandan owed to foreign agencies by some $120. According To Museveni, Uganda is now richer by �1bn, which in simple figures means each Ugandan is now richer by $43. In actual fact, by interpolation, each Ugandan is now poorer by $77, which evidence is not difficult to find. Had UPC continued in power, to date, if everything remained the same, each Ugandan would be poorer by $21.5 only. This suggests that Museveni has impoverished Uganda by as much as 3 times more than UPC would have done over a similar period. If invisible earning of some $600m is taken out of the equation and UPC worked with $500 of visible earning, Uganda would be 3 times richer under UPC. This invisible earnings, which under Museveni is claimed under 'Kyeyo' $s sent to provide welfare benefits to relatives, I suspect, UPC would claim it under increased productivity and ec onomic growth. With Museveni's claim of earnings of $1bn now, had UPC continued to manage the affairs of the country up to November 2003, I dare suggest that Uganda would be 6 times richer, and by interpolation, each Ugandan would be $41 better off. If Museveni's own claim of $43 is allowed to stand as it is, the NRA-military rule has increased the wealth of each Ugandan by some pittance of $2. At least what is clear is that Museveni presents his fiscal figures based on his belief system that 'they are good'. Museveni does not suggest anywhere that his figures are backed by an independent and authoritative source. Which leads me to conclude that he is 'sexing it up' (UK speak) or 'adulterating' (parliamentarian language) for some reason such as 'third term' or 'weird vision of industrialisation'. JSA Uganda $1b wealthier Upbeat: Museveni By Alfred Wasike UGANDA is at least US$1b richer this closing year, President Yoweri Museveni said in his New Year address to the nation. H e warned government officials to either work to industrialise their country or vacate their positions immediately. He said, �Lukewarmness to the interests of the people is no longer acceptable to me.� He said Ugandan scientists should be remunerated higher than politicians, managers and other bureaucrats since �science is the future and basis for survival.� �By the end of October (2003) the total earnings from visible exports (coffee, tea, fish, cotton, etc) were US$452.6 million; the invisible exports (tourism, kyeyo, etc) had brought in US$556.6 million. Therefore, even before the calender year has ended, our combined external earnings are already more than US$1b,� he said. He said Uganda earned $300,000 per month from garment exports to the USA. He called it �real liberation from slavery of selling raw materials.� He called for more factories to add value to exports. He said, �The NRM in which I would like all of us to join is to ensure that we add value to exported coffe e, cotton and other products to create more jobs and money.� He said this did not include what Uganda gets from donors except small inflows from non-governmental organisations. �This is not an exceptionally good performance but it is good,� he noted and said he would this month announce a blueprint for Uganda�s industrialisation. Museveni said since Uganda had resolved its biggest strategic development bottleneck of access to the huge and lucrative markets of the USA, EU and Japan, he said vigorous implementation of an export-oriented industrialisation programme and homestead poverty eradication was needed. He said Uganda�s strategic challenges were transforming Uganda from a pre-industrial to an industrial modern society, creation of more jobs, widening the tax base, more infrastructural development, market integration/access, human resource development and building of a viable state. He said while Uganda�s industrial growth rate has been at 6.7%, the overall gross domestic product (GDP) growth rate would be 5.6% in the 2003/2004 financial year. He described this as good. Museveni congratulated Mukono for growing vanilla and noted that the district was bursting with energy because of vanilla. He warned the Mukono farmers to emulate their compatriots in Bundibugyo who have other income generating activities like fish, fruit, cocoa, coffee farms at their homestead otherwise �your prosperity will be shortlived and I don�t want that.� He also congratulated Kanungu for taking to fish farming. On the LRA, he said, the Kony terror in the north-east had been defeated. He said many Kony fighters were killed. On AIDS, he said, �AIDS still remains a problem. We must close all the loopholes through which AIDS comes. The main route is promiscuity. ARVs are not a cure.� Published on: Thursday, 1st January, 2004 Email this article to a friend. JSA
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