70053
WB Upbeat About Uganda Growth
WB Upbeat About Uganda Growth

WB Upbeat About Uganda Growth

WB Upbeat About Uganda Growth

The Uganda economy could grow at a rate of 5.2% during the current financial year 2017/18, according to the latest World Bank update. That figure represents a 100% positive shift in the rate of economic growth and is the only positive sliver in a report that dwelt mainly on the poor performance of the economy in the previous FY 2016/17, AllAfrica reported. For the financial year ending June 2017, the government failed to execute many public investments, continued to perform badly in revenue collection, and had to deal with a terrible drought—all which slowed economic growth. The aftershocks of the high inflation of 2011 that peaked at 30% were still having lingering effects and continued to constrain private investments. Commercial bank credit to the private sector remained subdued and the government’s financial policy is undermined by overspending on operational matters such as wages and less on the development budget. On a positive note, inflation remained low, through the year, allowing sustained easing of monetary policy.

 

Short URL : https://goo.gl/VXXaD5
  1. https://goo.gl/ueL61c
  • https://goo.gl/RmsuTp
  • https://goo.gl/r483gj
  • https://goo.gl/oX8jU6
  • https://goo.gl/Do4Zhr

You can also read ...

Google and Walmart are set to start a partnership through which thousands of Walmart products are offered through the Google Home voice-controlled speaker.
Lowe’s Inc the number-two US home improvement retailer,...
Lowe’s Q2 Profit Jumps 21.6%
Lowe’s Inc the number-two US home improvement retailer,...
There were rallies on Wall Street overnight due to US President Donald Trump’s comments.
Asian indexes put in mixed performances on Wednesday following...
Toshiba, Western Digital Start Talks on Memory Sale
Toshiba has begun negotiations with business partner Western...
Blackstone Explores $7b IPO of Gates Global
Private equity firm Blackstone Group LP is exploring an...
Italian 10-year yields climbed 6 basis points to  a 3-1/2-week high at 2.17%
Eurozone bond yields rose on Wednesday, with Italian yields...
China Court Awards US Co. $1.5m in Court Case
A Chinese court has ordered three domestic shoemakers to pay...
Identity Fraud Soars to New Highs in UK
Cifas, the UK’s leading fraud prevention service, has released...

Add new comment

Read our comment policy before posting your viewpoints

Image CAPTCHA
Enter the characters shown in the image.

Trending

Googleplus