Economic times normally affect every individual directly or indirectly. From the producers to consumers, this is something that is neutral among them all. Sometimes economic times are to an advantage but sometimes they are the hardest times to go through.
Sowing hard economic times is something no one is willing to go through whether rich or poor because it affects everyone.
In Uganda, the country has had major counts of hard economic times for instance in 2011 and 2016. Some people have connected this trend to the elections in those years. It is said the Uganda government spent a lot of money to win the elections.
It has now become a trend of hard economic times especially in months of January. This is due to the extreme expenditures at the end of previous year (December) where a lot of people spend money attending parties as well as the luxurious celebrations of the festive season. January has been termed the ‘month of poverty’ because everyone seems poor. For instance, as it is January, many people are talking about the scarcity of money.
Hard economic times affects every one
From someone selling food stuff along the road to someone owning a restaurant. For instance, you will find that each will realize low levels of consumption or purchase of their products. Someone who normally sells all their goods will hardly sell anything. A mobile money agent will have a fall in their commission because other days she or he will be able to transaction over 100,000 shillings in a few hours but will fail to make any transaction during these hard economic times.
These harsh times eventually affect everyone, that is to say high costs of living and low standards of livings. However, most people opt to go through this time hoping for better times in the near economic futures. Business suffer losses as they prepare for more favorable times.