Economy
EU concerned over low social services spending, domestic borrowing
As development partners, we are committed to supporting Uganda’s efforts to generate private sector growth and decrease reliance on external funding. We have concerns however about whether the proposed budget is compatible with that scenario.
10 things the World Bank says about Uganda’s economy
The World Bank on Tuesday released its eighth Uganda Economic Update outlining its view of the state of the economy, more than six months after it cut off funding over slow execution of projects. Here are 10 key messages from the report.
Inflation rises to 5.9% in January
Inflation rose to 5.9% in January, the highest rate in seven months, mainly driven by an increase in the price of food crops, according to the Uganda National Bureau of Statistics. Headline inflation in December 2016 came in at 5.7%.
Inflation climbs to six-month high
The inflation rate rose sharply in December to 5.7%, the highest rate in six months, mainly because of an increase in the price of food crops to 10.8%, according to the Uganda Bureau of Statistics. Headline inflation in November was 4.6%.
Invest in agriculture to get economy back on track, leaders say
Political and business leaders believe that with recent reports of Uganda’s economic downturn, more government attention to agriculture - which employs most Ugandans - and increased investment in the sector will spur growth.
Uganda to grow 4.9% in 2016 – IMF
The Uganda economy is set to grow at 4.9% in 2016, according to a report released by the International Monetary Fund, slightly higher than the 4.8% registered in 2015. It also forecasts a real GDP growth of 5.5% in 2017.
Inflation falls to 4.2% in September
Annual headline inflation fell for the third consecutive month, slowing to 4.2% in September 2016 from 4.8% in August, according to data from the Uganda Bureau of Statistics. Core inflation, which is targeted by the Central Bank, also fell to 4.1%.
Inflation falls to lowest level in 16 months
Annual headline inflation fell to its lowest level in 16 months, coming in at 4.8% for August, data from the Uganda Bureau of Statistics showed on Wednesday