World Economy

Uganda GDP to Grow 5.5%

Uganda GDP to Grow 5.5%Uganda GDP to Grow 5.5%

Uganda’s economy will grow 5.5% in the year to June 2018, edging up from estimates for the current fiscal year thanks to lower borrowing costs and higher oil sector investments, a budget paper seen by Reuters showed. The East African country’s central bank began a round of policy easing last April, since when the benchmark rate has dropped from 16% to 11.5%. “Growth will be supported by a recovery in private sector credit due to the easing of monetary policy,” the finance ministry’s budget framework said. Issuance of crude production licenses would boost activity in the oil sector, also aiding growth, the paper said.


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