The World Bank, in a report published on June 6, revealed that Uganda’s economy should grow by 5.9%, between July 2016 and June 2017, against 5% the previous year, as a result of private investment in major infrastructure projects. “The main driver for growth will be the construction industry, whose development will be spurred by major public investments in infrastructures,” the institution said.

Uganda, yet to start exploiting its major oil and gas reserves discovered over the past few years, launched many major infrastructure projects including motorways, railroads, power plants, a pipe-line and a refinery.

The World Bank has also said in its report that private investments should soar as political concerns over the re-election of President Yoweri Museveni for another 5-year term died.

However, the institution mentioned that the nation’s public debt should rise to 46.1% of its GDP in 2018 from 31.2% at the end of 2015, as the infrastructure projects are financed with loans from China.