Kampala – The Minister of Finance, Matia Kasaija, has assured Ugandans that the government is prepared to shield the economy from post-election shocks and price instabilities, including those affecting the coffee sector.
Addressing the nation on the economy's progress at the Media Centre, Minister Kasaija defended the recent fluctuations in coffee prices, stating that it presents an opportunity for other export products like gold to gain value.
"The Ministry of finance has assured Ugandans not to panic after the price instability of coffee... this is to give opportunity to other products such as gold also to gain value."
The Minister highlighted the strength of the Ugandan Shilling, which is ranked second on the continent by the International Monetary Fund (IMF) for its stability against the US dollar.
"The government is ready to protect Ugandans against all the economic shocks after elections."
Furthermore, Minister Kasaija pointed to stable and declining inflation, which reduced from 3.9% in June to 3.8% in July.
