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List of Acronyms

Acronym		Expansion
B.Franc		Burundian Franc
BOU		Bank of Uganda
BTI		Business Tendency Index
CBR		Central Bank Rate
CIEA		Composite Index of Economic Activity
EAC		East African Community
EFU		Energy, Fuels and Utilities
FOB		Free on Board
FX		Foreign Currency
FY		Financial Year
GBP		British Pound Sterling
ICBT		Informal Cross Border Trade
KShs		Kenyan Shilling
MDAs		Ministries, Departments and Agencies
MOFPED		Ministry of Finance, Planning and Economic Development
NGOs		Non-Government Organisations
PAYE		Pay as You Earn
PMI		Purchasing Managers’ Index
PSC		Private Sector Credit
R.Franc		Rwandan Franc
T-Bills		Treasury Bills
T-Bonds		Treasury Bonds
TzShs		Tanzanian Shilling
UBOS		Uganda Bureau of Statistics
UShs / Shs		Ugandan Shilling
US$ / USD		United States Dollar
VAT		Value Added Tax
YTM		Yield to Maturity

Summary¹

Real Sector

Headline inflation continued on an upward trend increasing to 4.9% for the year ending April 2022 from 3.7% recorded for the year ended March 2022. .
The increase in the inflation rate was due to a combination of supply and demand factors that continued to affect prices in April. These include; high international crude oil prices, geopolitical tensions in Europe leading to a rise in international commodity prices, and continued increase in aggregate demand following the full reopening of the economy in January 2022.
There was an improvement in the level of economic activity according to the Purchasing Managers’ Index (PMI) and Composite Index of Economic Activity (CIEA).
Investors’ sentiments about doing business in Uganda remained positive in April 2022 as illustrated by the Business Tendency Index (BTI) which remained above the indicative threshold of 50 at 56.44 in April 2022, despite a slight reduction from 57.66 in March 2022.

Financial Sector

The Shilling strengthened against the US Dollar, appreciating by 1.3% to a monthly average of Shs. 3,541.5/USD from Shs. 3,589.8/USD recorded the previous month. This appreciation was on account of higher dollar inflows, especially from portfolio investors, which outstripped demand during the month.
In April 2022, there were two T-Bill auctions and one T- Bond auction held in the primary market from which Shs 750.97 billion (at cost) was raised. Of this amount, Shs 424.91 billion was used for refinancing of maturing debt whilst Shs 326.06 billion went towards financing other items in the Government budget.
Annualized yields (interest rates) for the 182-day and 364-day tenors declined in April 2022, unlike the 91-day yield tenor which increased. Yields for the 182- and 364-day tenors were recorded at 8.18% and 9.04% compared to 8.42% and 9.70% recorded the previous month, respectively. The decline in yields is partly on account of a decrease in government borrowing requirement.
The average weighted commercial bank lending rate for the shilling denominated credit was recorded at 19.35% in March 2022 up from 18.84% recorded in February 2022.

External Sector

Uganda’s merchandise trade deficit with the rest of the world widened to USD 265.6 million in March 2022 compared to USD 249.9 million in February 2022. This was on account of a bigger increase in the import bill which more than offset the increase in export receipts.
Merchandise export receipts amounted to USD 369.39 million in March 2022, a 10% increase when compared to USD 335.49 million recorded in February 2022 with higher receipts from coffee, fish & its products, sugar, maize and base metals.
The merchandise import bill increased to USD 634.98 million in the month from USD 585.43 million recorded for February 2022. This was on account of both higher oil and non-oil formal private sector imports during March 2022. The increase in oil imports was due to a rise in both price and volume.
During the month, Uganda traded at surpluses with the EAC, Rest of Africa and European Union while deficits were registered with Asia, Middle East, and Rest of Europe.

Fiscal Sector

Preliminary data shows that government operations in April 2022 resulted into an overall fiscal deficit of UShs 1,307.66 billion which was higher than the planned deficit of UShs 1,285.69 billion. This was on account of higher than planned government expenditure during the month.
Domestic revenue collections in April 2022 amounted to UShs 1,791.60 billion, posting a surplus of UShs 210.64 billion against the UShs 1,580.96 billion target for the month. Of the total amount collected, UShs 1,671.52 billion were tax collections while UShs 120.08 billion were non-tax collections.
Government expenditure in April 2022 amounted to UShs 3,131.97 billion, representing a 106.2% performance rate compared to the UShs 2,948.68 billion target for the month. This performance was mainly on account of higher than planned spending on non-wage recurrent expenditure during the month.

East African Community

There was a general increase in inflation among the EAC Partner States mainly due to a rise in food crops, fuel and gas prices within the region. Rwanda posted the highest inflation rate which almost doubled to 10.5% in April from 5.6% in March 2022, while Tanzania posted the lowest inflation at 3.8% in April 2022 from 3.6% the previous month. Kenya’s inflation was recorded at 6.5% in the month from 5.6% in March 2022.
Currencies of all EAC Partner States continued to register a depreciation against the US dollar save for the Uganda Shilling. The Kenyan Shilling, Rwandan and Burundi Francs depreciated against the dollar by 0.96%, 0.23% and 0.23% respectively, while the Tanzanian Shilling depreciated only marginally by 0.01%.
During March 2022, Uganda continued to register a trade surplus with the EAC as has been the case since the start of this financial year. The trade surplus amounted to USD 58.07 million higher than USD 48.99 million recorded in February 2022. This was largely on account of an increase in export receipts from the region during the month.

Real Sector Developments

Inflation

Annual headline inflation for the month of April 2022 increased further to 4.9% from 3.7% in recorded in March 2022. This marks the highest monthly inflation rate recorded since October 2017 when inflation was at 4.7%. The increase in inflation was on account of a number of factors including;

Increase in aggregate demand on account of full reopening of the economy away from the COVID-19 restrictions,
Continued supply chain disruptions mainly arising from the Russia-Ukraine war that have resulted into a continued rise in international prices of energy fuels and raw materials such as crude palm oil, fertilizers, wheat flour and clinker-a key input in the production of cement.
Rising food prices as demand for food items increased following the reopening of the Uganda-Rwanda border as well as adverse weather conditions in Kenya and South Sudan.

All three sub-components of headline inflation increased as shown in figure 1 although food crop & EFU inflation recorded the highest annual inflation rates during the month.

Core inflation rose from 3.6% in March 2022 to 4.3% in April 2022, mainly driven by further price increases of laundry bar soap, cooking oil, wheat flour & related baked commodities as well as a recent spike in prices of whole grain maize, maize flour and building materials like cement, iron sheets, nails, paint.

The rise in the prices of cement was attributed to the temporary closure of the Tororo cement factory in April 2022 combined with the continued rise in the international price of clinker- a key input in the production of cement.

Prices of maize flour and whole-grain maize increased partly on account of the outbreak of the armyworm in March 2022 which has destroyed maize fields across the country. The scarcity of maize countrywide combined with the increasing regional demand, especially for maize produce led to a rise in maize prices during April 2022.

Food crop and related items inflation inflation accelerated to 5.4% in April 2022 from 1.9% recorded the previous month. This rise was on account of increased regional demand from Rwanda, South Sudan and Kenya, as well as a continued increase in demand for food, especially from schools following the full reopening of the economy in January 2022. Food crop items that recorded high annual price increments include; matooke, cassava, passion fruits, watermelon, cucumber and carrots.

Similarly, EFU inflation increased to 11.2% during the month of April from 8.5% in the previous month. The increase in EFU Inflation was attributed to domestic fuel and gas whose prices continued to rise in line with the increasing international energy and gas prices.

As such, Annual liquid fuels inflation within the EFU basket which includes petrol, diesel, kerosene and liquefied gas increased to as high as 30.3% in April 2022, from 26.4% in March 2022.

Economic Activity

The CIEA rose by 0.42% from 147.19 in February 2022 to 147.81 in March 2022, indicating an improvement in the level of economic activity.

Despite the improvement in the economic activity since the full reopening of the economy, the international supply chain constraints and geo-political tensions in Europe have translated into high commodity prices thus curtailing the momentum of increase in economic activity since January 2022. This is witnessed by lower monthly percentage average increases in the CIEA (0.34%) between January and March 2022 compared to 0.97% recorded for the period October to December 2021.

The PMI in April 2022 remained above the threshold of 50 increasing to 53.9 from 51.3 in March 2022, signalling a further improvement in business conditions. There were further improvements in output and new orders as demand strengthened, in turn feeding through to higher employment and purchasing activity. At the same time, cost pressures were highlighted, with companies passing on rising input prices to customers.

Business Perceptions

Sentiments about doing business remained positive as shown by the BTI which remained above the threshold of 50 during the month of April. Nonetheless, the BTI dropped slightly to 56.44 from 57.66 in March 2022 pointing towards a slight reduction in optimism among business players about the current and expected outlook for production, order levels, employment, prices and access to credit.

Less optimism was reported for manufacturing, wholesale trade and agricultural sectors while players in the construction sector remained highly optimistic.

Financial Sector Developments

Exchange Rate Movements

The Ugandan Shilling gained value against the US dollar in April 2022 when compared to March 2022. The Shilling appreciated by 1.3% recording a monthly average of Shs. 3,541.5/USD from Shs. 3,589.8/USD recorded the previous month. This appreciation was on account of higher dollar inflows especially from portfolio investors, which outstripped demand in the country. Portfolio investors have been attracted by a relatively stable exchange rate within the country as well as high risk profiles in peer countries.

Interest Rate Movements

Despite the recent increase in inflation, the Central Bank Rate was maintained at 6.5% in April 2022. This was a deliberate monetary policy action to continue supporting economic recovery from the impacts of economic shocks.

Lending Rates²

During March 2022, the average weighted commercial bank lending rate for the shilling denominated credit was recorded at 19.35% up from 18.84% in February 2022. This increment was on account of higher inflation pressures and outlook which are key considerations by commercial banks in determining the lending rates.

On the contrary, foreign currency denominated lending rates reduced to a weighted average of 5.97% in March 2022 from 6.25% recorded in February 2022.

Government Securities

There were two T-Bill auctions and one T- Bond auction in the primary market during the month of April 2022. Shs 750.97 billion (at cost) was raised, of which Shs 383.70 billion was from T-Bills and Shs 367.27 billion was from T-bonds. Shs 424.91 billion was used for the refinancing of maturing debt whilst Shs 326.06 billion went towards financing other items in the Government budget; as shown in table 1.

Breakdown of Government Securities (UShs Billion) [Source: MOFPED]
	Total Issuances	Financing other items in the Government budget	Refinancing
Q1 2021/22	3,318.2	1,594	1,724.2
Q2 2021/22	2,781.3	745.9	2,035.3
Q3 2021/22	3,114.2	1,182.8	1,931.4
April 2022	751	326.1	424.9
FY 2021/22 to date	9,964.6	3,848.7	6,115.9

Annualised Yields (Interest Rates) on Treasury Bills

The 182-day and 364-day tenors registered a decline in their yields, unlike the 91-day which recorded an increase in its yield from 6.66% in March to 6.71% in April 2022. Yields for the 182- and 364-day tenors decreased to 8.18% and 9.04%, respectively, in April 2022 compared to 8.42% and 9.70%, recorded the previous month. The fall in the yields for these tenors was partly on account of an increase in demand for these instruments as shown by the average bid to cover ratio, which increased to 2.17 in April from 1.76 recorded the previous month.

Yields on Treasury Bonds

During the month, Government reopened two T-Bond instruments, i.e 3-year and 15-year tenors. The Yield to Maturity (YTM) on the 3-year tenor recorded an increase from 12.09% in January 2022 to 12.35% in April 2022. Similarly, the rate on the 15-year tenor increased to 14.50% in April from 14.39% in January.

Outstanding Private Sector Credit³

Credit Extensions⁴ ⁵

During March 2022, credit worth Shs. 1,082.8 billion was extended to the private sector by lending institutions. In comparison to February 2022, this represents an increase in credit extension by 23.7%. In terms of loan approval versus loan submissions, this month recorded the highest approval rate of 59% since January 2022; an indication of continued economic recovery after the full reopening of the economy

Similar to the previous month, personal and household loans constituted the largest share of credit approved in March 2022 at 26.0%. This was followed by trade at 23.9%; building, mortgage, construction & real estate at 14.2%; business, community, social and other services at 10.2%and agriculture at 9.2%.

External Sector Developments

Merchandise Trade Balance⁶

During March 2022, Uganda’s trade with the rest of the world resulted into a deficit of USD 265.6 million, higher than USD 249.9 million recorded the month earlier. This was on account of a bigger increase in the import bill (by USD 49.6 million) which more than offset the increase in the export receipts (by 33.9 million) over the same period.

Merchandise Exports⁷

Uganda’s merchandise export receipts amounted to USD 369.39 million in March 2022, a 10% increase when compared to USD 335.49 million recorded in February 2022. This was majorly on account of increases for both coffee and non-coffee formal exports. Coffee export receipts benefited from increases in international coffee prices since October 2021, as well as higher coffee export volumes. Non-coffee formal exports rose by 11.5% mainly on account of increases registered for base metals & products, plastic products, tobacco, oil re-exports, cotton and maize.

Merchandise Exports by Product (US$ Million) [Source: BOU and MOFPED Calc.]
Product	Mar-2021	Feb-2022	Mar-2022	Mar-2022 vs Mar-2021 % Change	Mar-2022 vs Feb-2022 % Change
Total Exports	454.48	335.49	369.39	-18.72	10.1
Coffee
Value Exported	53.52	72.17	80.99	51.31	12.22
Volume Exported (Millions of 60 Kg Bags)	0.57	0.45	0.48	-16.55	6.47
Average Unit Value (US$ per Kg of Coffee)	1.56	2.68	2.82	81.33	5.4
Non-Coffee Formal Exports	362.18	215.83	240.75	-33.53	11.55
of which:
Base Metals & Products	12.45	14.14	20.26	62.72	43.29
Cotton	4.25	3.04	4.1	-3.59	34.95
Tea	7.1	8.68	5.77	-18.68	-33.52
Tobacco	9.14	2.67	4.51	-50.67	68.9
Fish & Its Prod. (Excl. Regional)	8.59	13.28	11.52	34.09	-13.26
Simsim	4.48	4.96	4.71	5.24	-4.94
Maize	5.38	5.36	5.83	8.48	8.86
Beans	5.26	10.14	7.45	41.68	-26.58
Flowers	5.96	6.07	5.22	-12.43	-14.07
ICBT Exports	38.77	47.5	47.66	22.93	0.34

Destination of Exports⁸

Similar to the previous month, EAC was the largest destination of Uganda’s exports during March 2022, accounting for 39.2% of total exports. The other notable export destinations were Rest of Africa (29.8%) and European Union (19.3%) in the second and third positions respectively.

Merchandise Imports⁹

During March 2022, Uganda imported merchandise worth USD 634.98 million. This represents an increase by 8.5% when compared to USD 585.43 million in February 2022, on account of both higher oil and non-oil formal private sector imports. The commodities that posted major increases were; (i) petroleum products- mostly because of higher international crude oil prices; (ii) vegetable products, animal, beverages and fats & oils; and (iii) base metals and their products.

In March 2022, Asia remained the largest source of Uganda’s imports, accounting for USD 253.30 million or 42.8% of Uganda’s total imports. It was followed by Middle East at 21.9%, EAC at 13.6% and then European Union at 6.8%. Within Asia, the imports were mainly sourced from China (USD 109.38 million or 40.3%) followed by India at USD 83.69 million or 30.8%.

Trade Balance by Region

During March 2022, Uganda traded at surpluses with the EAC, Rest of Africa and European Union while deficits were registered with Asia, Middle East, and Rest of Europe. The biggest surplus was registered with Rest of Africa (USD 77.38 million) while the biggest deficit was recorded with Asia (USD 247.68 million).

The surplus of USD 28.0 million recorded with the European Union represents an improvement when compared to the deficits of USD 25.49 million and USD 12.22 million in March 2021 and February 2022, respectively.

Merchandise Trade Balance by Region (US$ Million) [Source: BOU]
Region	Feb 2022	Mar 2022
European Union	-12.22	28
Rest of Europe	-3.43	-4.43
Middle East	-87.54	-130.66
Asia	-224.42	-247.68
EAC	48.99	58.07
Rest of Africa	63.97	77.38
Other Countries	-35.29	-46.27

Fiscal Developments¹⁰

Preliminary data shows that government operations in April 2022 resulted into an overall fiscal deficit of UShs 1,307.66 billion which was higher than the planned deficit of UShs 1,285.69 billion. This was on account of higher than planned government expenditure during the month.

Summary Table of Fiscal Operations April 2022 (UShs Billion) [Source: MOFPED]
Shs Billion	Program	Outturn	Performance	Deviation
Revenues and grants	1,662.99	1,824.31	109.7%	161.32
Revenues	1,580.96	1,791.6	113.3%	210.64
Tax	1,475.55	1,671.52	113.3%	195.97
Non-tax	105.41	120.08	113.9%	14.67
Grants	82.03	32.71	39.9%	-49.32
o/w Project support	82.03	32.71	39.9%	-49.32
Expenditures and lending	2,948.68	3,131.97	106.2%	183.29
Current expenditures	1,747.24	2,006.66	114.8%	259.42
Wages and salaries	449.36	412.86	91.9%	-36.51
Interest payments	499.21	499.21	100.0%	0
o/w domestic	294.67	294.67	100.0%	0
o/w external	204.54	204.54	100.0%	0
Other recurrent expenditure	798.67	1,094.6	137.1%	295.93
Development expenditures	1,198.34	1,117.11	93.2%	-81.23
Domestic	706.22	979.97	138.8%	273.75
External	492.12	137.14	27.9%	-354.98
Net lending/repayments	0	7.82	__	7.82
o/w HPP GoU	0	7.82	__	7.82
HPP Exim	0	0	__	0
Domestic arrears repayment	3.11	0.38	12.3%	-2.73
Domestic fiscal balance	-1,285.69	-1,307.66	__	__

Revenues

Revenue and grants in April 2022 amounted to UShs 1,824.31 billion, representing a 109.7% performance against the UShs 1,662.99 billion target for the month. Project support grants received during the month amounted to UShs 32.71 billion, a 39.9% performance against the planned UShs 82.03 billion for the month.

Domestic revenue collections for April 2022 amounted to UShs 1,791.60 billion, hence posting a surplus of UShs 210.64 billion or 113.3% performance against the UShs 1,580.96 billion target for the month. Of the total amount collected, UShs 1,671.52 billion were tax collections while UShs 120.08 billion were non-tax collections.

Tax collections posted a surplus of UShs 195.97 billion against the UShs 1,475.55 billion planned for the month. This was mainly on account of higher than planned collections for income taxes especially PAYE from the private sector as employment continues to pick up; and taxes on international trade & transactions mainly on account of higher collections for petroleum duty, import duty and VAT on imports during the month.

Similarly, non-tax revenue collections during the month amounted to a UShs 14.67 billion surplus against the target of UShs 120.08 billion. This performance is attributed to increased collections from education institutions and the Directorate of Citizenship & immigration control following the return to full operation of education institutions and further increased demand for machine readable passports. Surpluses were also recorded from the works and transport sector (drivers’ permits) and Uganda Registration Services Bureau.

Expenditure

Preliminary data shows that government expenditure in April 2022 amounted to UShs 3,131.97 billion, representing a 106.2% performance rate compared to the UShs 2,948.68 billion target for the month. This performance was mainly on account of higher than planned spending on non-wage recurrent expenditure as some votes received supplementary resources during the month.

Total wages and salaries for the month amounted to UShs 412.86 billion, reflecting a 91.6% performance against the planned UShs 449.36 billion for the month on account of some delayed salary payments that spilled over into May 2022.

On the other hand, non-wage recurrent expenditure during the month amounted to UShs 1,094.60 billion against the planned UShs 788.67 billion. This is a 48.9% of the quarterly release for Quarter 4 as majority of the MDAs front loaded their non-wage expenditure to the first month of the quarter.

Government spending towards domestically financed development projects amounted to UShs 979.97 billion, translating into a 138.8% performance against the target for the month. However, spending on externally financed development expenditures only performed at 27.9% of the plan for the month owing to execution challenges among MDAs that affect disbursements from development partners.

East Africa Community Developments

EAC Inflation¹¹

There was a general increase in inflation for the EAC Partner States for which data was available. Rwanda had the highest inflation rate which almost doubled to 10.5% in April from 5.6% in March 2022. Tanzania on the other hand had the lowest inflation at 3.8% in April 2022 which increased from 3.6% the previous month. Kenya’s inflation was recorded at 6.5% in April 2022 from 5.6% in March 2022.

The main drivers for the increase in inflation across the region include;

Rising food crop prices as a result of the adverse weather conditions in the region i.e., the floods in South Sudan and drought in Kenya that have in turn reduced food supply in the region.
Rising fuel and gas prices in tandem with the rise in international fuel and gas prices.

EAC Exchange Rates

Currencies of all partner states for which data was available continued to register a depreciation against the US dollar save for the Uganda Shilling. The Kenyan Shilling, Rwandan and Burundi Francs depreciated against the dollar by 0.96%, 0.23% and 0.23% respectively, while the Tanzanian shilling depreciated only marginally by 0.01%.

For Kenya in particular, the depreciation was mainly on account of increasing dollar demand from fuel and merchandise importers following the rise in international commodity and fuel prices amid slower recovery in the exports and tourism receipts.

Trade Balance with EAC

During March 2022, Uganda continued to register a trade surplus with the EAC as has been the case since the start of this financial year. The trade surplus amounted to USD 58.07 million higher than USD 48.99 million recorded in February 2022. This was largely on account of increase in export receipts during the month. Total exports receipts to the EAC amounted to USD 144.74 million while the import bill was worth USD 86.67 million.

At country specific level, Uganda posted trade surpluses with South Sudan and Burundi while deficits were recorded with Tanzania, Kenya and Rwanda. South Sudan recorded the highest trade surplus of USD 63.19 million given its largest uptake of our exports. The second largest destination of Uganda’s exports was Kenya accounting for USD 59.85 million, followed by Tanzania at USD 12.31 million.

Glossary

Term	Description
Bid to cover ratio	This is an indicator for the demand of Government securities in a given auction. A ratio equal to 1 means that the demand for a particular security is equal to the amount offered by the government. A ratio less than 1 means the auction is under subscribed and a ratio greater than 1 means that the auction is over subscribed.
BTI	The Business Tendency Index measures the level of optimism that executives have about current and expected outlook for production, order levels, employment, prices and access to credit. The Index covers the major sectors of the economy, namely construction, manufacturing, wholesale trade, agriculture and other services. The Overall Business Tendency Index above 50 indicates an improving outlook and below 50 a deteriorating outlook.
CIEA	CIEA is constructed using seven variables, that is; private consumption estimated by VAT, private investment estimated by gross extension of private sector credit, government consumption estimated by its current expenditure, government investment estimated by its development expenditure, excise duty, exports and imports. Data comes with a lag of one month.
Core Inflation	This is a subcomponent of headline inflation that excludes items subject to volatility in prices. It excludes energy, fuels, utilities, food crops and related items.
Headline Inflation	This refers to the rate at which prices of general goods and services in an economy change over a period of time usually a year.
Non-Performing Loan	This is a sum of borrowed money upon which the debtor has not made scheduled payments for a period usually at least 90 days.
Tenor	This refers to the time-to-maturity of a financial instrument, for example, if a certain instrument matures after 91 days – it is called a 91-day tenor.
PMI	The PMI is a composite index, calculated as a weighted average of five individual sub-components; New Orders (30%), Output (25%), Employment (20%), Suppliers’ Delivery Times (15%), and Stocks of Purchases (10%). It gives an indication of business operating conditions in the Ugandan economy. The PMI above 50.0 signals an improvement in business conditions, while readings below 50.0 show a deterioration. The PMI is compiled on a monthly basis by Stanbic Bank Uganda.
Yield to Maturity (YTM)	Yield to maturity (YTM) is the total return anticipated on a treasury instrument if the instrument is held until it matures.

Online Resources

Visit us online at mepd.finance.go.ug.

The entire history of data used for this and previous Performance of the Economy Reports - subject to data revisions - can be downloaded at mepd.finance.go.ug/apps/macro-data-portal.

An interactive display of leading economic indicators and a GDP nowcast is available at mepd.finance.go.ug/apps/macro-monitor.

Data on Private Sector Credit, CIEA and External sector has a lag of one month.↩︎
Data comes with a month lag.↩︎
Data on private sector credit has a lag of one month.↩︎
Data on private sector credit has a lag of one month.↩︎
Value of credit approved is the actual amount of credit released by lending institutions↩︎
Statistics on trade come with a lag of one month.↩︎
Other Countries include: Australia and Iceland.↩︎
Others include: Australia and Iceland.↩︎
Statistics on trade come with a lag of one month.↩︎
Fiscal data is preliminary.↩︎
Data for Burundi and South Sudan not readily available.↩︎

April 2022

Performance of the Economy Report

Ministry of Finance, Planning and Economic Development

2022-05-24