Economy

Economy

Inflation soars in March on rise in prices of household goods and fuel

Rising prices for household goods and services, clothing and footwear, and fuel saw inflation in March rise to the highest rate since July 2018, highlighting the impact of the ongoing war in Ukraine on global supply chains
A supermarket aisle of fast-moving consumer goods
Economy

Tax ‘nudge’ text messages could reduce evasion — especially when respondents believe their money will be put to work

Tax payment reminders sent via text message to liable individuals increased the likelihood that the respondent would comply and pay their tax, with punishment-themed messages the most effective
A female person looking at a smart phone screen
Economy

Trade deficit in goods widens in January

Uganda's merchandise trade deficit increased at the fastest rate in seven months in January as goods exports fell while inbound shipments rose for the first time since July 2021
Blue and red cargo ship on sea during daytime
Economy

Inflationary pressures persist as business activity hits 9-month high in February

Private sector activity expanded in February, accelerating the most in nine months after the phased removal of pandemic restrictions, but a rise in input and labour costs saw companies raise output prices yet again
A retail shopping centre in downtown Kampala, Uganda
Economy

Bank lending slows in January

Lending growth slowed in January after rising to a seven-month high the previous month, according to data from the Bank of Uganda
Logos of Uganda's commercial banks
Economy

Consumer prices rise at fastest pace in 20 months

Uganda consumer price prices jumped in February at the fastest pace in 20 months as economic activity picked up following the lifting of almost all pandemic measures and the reopening of the hospitality and education sectors
Taxi park in Kampala
EconomyPolitics & Policy

A mindset change is best route to broader and resilient growth

The Uganda government must encourage citizens to participate in the national development agenda. It must start by viewing citizens as agents of economic growth and development, not a burden to the government
Economy

Bank of Uganda’s monetary policy statement for February 2022

Full text of the Bank of Uganda's monetary policy statement for February 2022
Economy

Central bank holds interest rates steady citing need to support recovery

The Bank of Uganda on Monday held its key lending rate unchanged for the fifth consecutive meeting citing the need to support economic growth and on-target inflation
The Bank of Uganda in Kampala
Economy

Trade deficit narrows in December

The Uganda merchandise trade deficit narrowed for the second consecutive month in December as gold imports and exports recorded steep declines
Export containers at a port.
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