The European Business Council for Africa

The theme of the dialogue was ‘Fiscal responses to Covid-19 Pandemic and Economic Recovery Measures’. The thrust of the dialogue was that, the Covid-19 containment measures put in place by governments around the world unleashed an un-expected global lock down and an economic recession resulting from a drop in economic activity. In Uganda, the economy is expected to underperform by about 3 percentage points from the 6% growth rate that was envisaged for the FY 2019/20. While Uganda has so far done exceptionally well in containing the disease, registering many recoveries and no deaths, it has come at a huge cost. In a bid to slow down infections, economic activity was brought to a grinding halt. This has significantly reduced household incomes and government revenue. Many businesses are in distress from financial obligations as well as disruptions of supply and distribution chains. The debate at the dialogue largely focused on what should be prioritized during the Covid-19 pandemic, what the change may mean for the country’s development in the short-term and the interventions for economic recovery. […]

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