Uganda says geopolitical tensions, climate change key risk factors to revenue collection

KAMPALA, May 9 (Xinhua) -- The Ugandan Ministry of Finance, Planning and Economic Development said on Thursday that ongoing geopolitical tensions, tightening global financial conditions, and climate change are key risk factors to the country's revenue collection.

The ministry, in its Fiscal Risk Statement for the financial year 2024/2025, which starts July 1 this year, said the global economy has faced increased geopolitical tensions in recent years, such as the conflict in the Middle East and the Russia-Ukraine crisis. These conflicts, according to the ministry, are likely to disrupt supply chains and cause volatility in global commodity prices.