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Uganda GDP to Grow 5%

Uganda GDP to Grow 5%Uganda GDP to Grow 5%

The International Monetary Fund on Wednesday forecast Uganda’s economy would grow 5% in the 2016/17 (July-June) fiscal year, slightly less than its previous prediction, Reuters reported. It said Uganda would grow 5.5% next fiscal year, helped by higher spending on infrastructure. In April, the fund had forecast a 5.5% growth for 2016/17. It expanded 4.8% in 2015/16. “Uganda’s economy performed well in a complex environment. “Growth is projected at a solid 5% this fiscal year and 5.5% in FY17/18, supported by the scaling up of infrastructure spending.”

 

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