World Bank: Uganda could get rich on oil

25 Jun 2016   Uganda

Uganda could dramatically overhaul its economy with the right management policies in place by the time oil starts flowing in 2018, the World Bank said. “If oil resources are well managed, it could take the country a lot less time to achieve its national vision of attaining upper middle income by 2040,” Christina Malmberg-Calvo, the World Bank country manager for Uganda, said in a statement. By the World Bank’s estimate, Uganda will start pumping oil within two years , which could help the country transform its economy and society dramatically if revenues are managed appropriately. Uganda is categorized as a low-income nation with nearly 20 percent of the population living at or near the poverty level. The country’s primary source of […]

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