The Bank of Uganda cut its benchmark interest rate by a percentage point as part of measures to mitigate the economic crisis caused by the coronavirus pandemic, and also announced actions to support the financial institutions it supervises, including a moratorium on dividends and bonus payments
Uganda will close schools, restrict public gatherings and travel abroad in order to limit the spread of the coronavirus, which has not yet been confirmed in the country, President Yoweri Museveni announced Wednesday in a national address
Uganda gross domestic product grew faster than initially predicted in the 2018-2019 fiscal year, but the growth is still not fast enough for the government’s lower middle-income status and poverty reduction ambitions
Economic growth in Uganda failed to bounce back in the fourth quarter of 2018/2019, after a slowdown in the first three months of 2019, following slower growth in taxes on products and the services sector
Uganda’s economy posted its slowest growth since early 2017 in the three months to the end of June as the trade and repairs sub-sector contracted while expansion in manufacturing and education cooled down.