Government plans reforms for Tenfold Economic growth
The government has outlined three structural reforms to achieve its tenfold growth strategy over the next 15 years. According to the Central Bank, the government will need to undertake key structural reforms in the pensions sector, innovative financial products, and strengthen the market structure. Deputy Governor Ating Ego says this is in addition to expanding fiscal policy, with the possibility of widening the tax base to include taxing gamblers. The government’s economic managers believe these measures will pave the way for achieving the ambitious goal of a 500 billion dollar economy, compared to the current 50 billion dollars as of FY 2023/2024. Racheal Nabisubi reports.
