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 is estimated at 6.1% for 2018, up from 5.1% in 2017. The main drivers of growth in 2018 were the services and industrial sectors, while the agricultural sector contracted last year. Looking ahead, the economic outlook is positive, supported by multiplier effects from public infrastructure investments, and the expansion of services. GDP growth is forecast to ease slightly to 5.9% this year and to remain strong over the medium term, trending around 6% p.a. (Source: Uganda Quarterly Update, published April 2019.)
Macroeconomic Data
(2018)
|
Fiscal Balance (as a % of GDP) |
-4.0 |
|
Consumer Price Index (% change y-o-y, avg) |
2.6 |
|
Current Account Balance (as a % of GDP) |
-8.1 |
|
Real GDP (annual % change) |
6.1 |
|
GDP per Capita, US$ |
650 |
|
Import Cover (months) |
6.2 |
|
Population, million |
44.4 |
| Total External Debt (as a % of GDP) |
42.0 |