BoU projects economic growth at 5.5%

The executive director of research BoU, Dr Adam Mugume

Kampala- After marking slower growth rate in the last two financial years, the Bank of Uganda is optimistic and says Uganda’s economy is projected to recover gradually, with growth projected at 5 to 5.5 per cent in 2018/19 and averaging 6 to 7 per cent in the medium term.
The Central Bank explains that this growth is supported by projected growth in agriculture sector, due to predicted good weather but also partly as a result of government interventions in terms of seed distributions, irrigation schemes either in progress or in pipeline, and strong demand for agricultural produce in the region.
The economy grew at a revised rate of 4.0 per cent in FY 2016/17, against an earlier estimate of 3.9 per cent.

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