Uganda loses 90 million dollars investments owing to global crisis
Uganda said Friday that it is being hit by the global economic crisis and has lost an equivalent of 90 million US dollars in direct foreign investment since the financial slump began, dpa reported.
"The global economic crisis is drastically affecting developing countries and we are getting affected because we are part of the global village," Aston Kajara, deputy finance minister in charge of investment told reporters.
The minister said that President Yoweri Museveni has directed the finance and economic development ministry to "study how the Ugandan economy can be protected from the effects of the global economic crisis."
The West African nation - which exports cofee, tea and fish - relies on foreign funds for 30 per cent of its budget.