Museveni warned on splashing hard cash

Economic analyst, Mr Ramadan Goobi, has cautioned the President over donation citing that they will increase macro instability in Uganda (FILE PHOTO)

KAMPALA – Economic experts have warned President Yoweri Museveni over the continued splashing of cash without accompanies production of goods and services.

Museveni recently launched an initiative where has to give out hard cash to ghetto youth in the new donation drive which according to the state house, is meant to empower youth to improve their livelihoods

Speaking to a local radio station on Wednesday morning, Mr Ramadan Goobi an economic analyst said the ongoing donation is very dangerous to country’s economy as it is likely to cause more macro instability.

“Macro instability offsets economic growth. The ongoing donations will consequently affect the country’s economy if this is not revisited,” said Goobi

This he said if not stopped, Uganda is likely to suffer from unspeakable inflation.

Kyadondo East MP Robert Kyagulanyi alias Bobi Wine urged President Museveni to desist from donations (FILE PHOTO)

Also Kyadondo East MP Robert Kyagulanyi Ssentamu also known as Bobi Wine on Monday in a press briefing lashed out to the President over the same saying that ghetto youths’ problems cannot be solved by Mr Museveni’s money.

“The act of the President [Yoweri Museveni] to distribute money to these youth is a sign that he is scared of People Power. Unfortunately bribing them with money will not change their mindset,” Bobi wine said.

He said that the youth have suffered for long and all they need now is proper functioning institutions and long-lasting solutions.

“It is unwise of President Museveni for spending big without addressing youth concerns,” Bobi Wine said.



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