Blog » Urbanization as a Feature of Economic Development

Urbanization as a Feature of Economic Development

Created Jul 16 2015, 5:45 AM by Matthew Olao
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There is a correlation between the rise in income levels and the rate of urbanization. Since our national vision is to become a middle-income country with a per capita income of US $9,500 within 30 years, it means the urbanizatin rate in Uganda will quickly climb up from the current 4.2%. We, as Lira Municipality, are trying to prepare for this deluge by not only investing in infrastructure to make the future city livable, but we are also attempting to guarantee the sustainability of the infrastructure, not to mention the resilience of the city, by increasing Own Source Revenue and reducing our dependency on Central Government and donor grants. However, Own Source Revenue will not be enough and, at some point, we shall need to borrow. So, we are also building our credit worthiness and in the last audit of FY 2013/2014 we were able to get an unqualified audit opinion for the first time in a very long while. We shall continue to work to ensure that this continues.

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    It is something great to hear from you your dedication to reach creditworthiness and to rely on yourself. And I think there must be national strategies worldwide for enabling municipalities depend on themselves rather than on loans or grants from the government or other sources. Great efforts as I wish you could reach your goal.

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