In-Depth Analysis
Uganda
The Ugandan government has focused on market reforms and macroeconomic stability as the anchor for investment, economic growth, and structural transformation. While these policies paid off in terms of macroeconomic stability and impressive GDP growth, they have not delivered significantly on economic transformation.
GDP growth slumped in the first three quarters of 2019, recorded at 5.0% y-o-y compared to 5.4% y-o-y in the same period in 2018. The decline in growth is primarily due to a lacklustre performance by the services and agricultural sectors. However, the economic outlook is positive, with GDP growth forecast at 5.8% this year, supported by multiplier effects from public infrastructure investments, oil-related FDI inflows, and the expansion of services. (Source: Uganda Quarterly Update, published February 2020)
Macroeconomic Data
(2019)
|
Fiscal Balance (as a % of GDP) |
-5.8 |
|
Consumer Price Index (% change y-o-y, avg) |
2.9 |
|
Current Account Balance (as a % of GDP) |
-10.4 |
|
Real GDP (annual % change) |
5.5 |
|
GDP per Capita, US$ |
735.1 |
|
Import Cover (months) |
3.9 |
|
Population, million |
44.2 |
| Total External Debt (as a % of GDP) |
42.7 |