(Ecofin Agency) - Uganda’s economy should grow by 6.3% during the 2019-2020 fiscal year, Daily Monitor announced citing the 2019-2020 finance act draft.
This should be due to growth in the manufacturing, trade, infrastructures and agriculture sectors.
The government intensified its infrastructure investments in preparation for oil production that should start in the country by 2022. These investments led to an increase in the country’s debts that should reach 50.7% of GDP during the 2021-2022 fiscal year, according to the IMF.
This week, the parliament indicated that a delay in the oil production and deterioration of the political and security climate could affect investors’ trust.
Let’s note that for the next five fiscal years, the IMF forecasts the country’s average growth to be around 6%-7%.
Moutiou Adjibi Nourou