Economy

Economy

Central bank keeps benchmark lending rate steady

The Bank of Uganda on Thursday held its benchmark interest rate yet again in an effort to keep inflation down and below target, and to support economic growth
The Bank of Uganda in Kampala
EconomyPolitics & Policy

Uganda’s economy growing but not braced for shocks, says World Bank

Uganda gross domestic product grew faster than initially predicted in the 2018-2019 fiscal year, but the growth is still not fast enough for the government's lower middle-income status and poverty reduction ambitions
The World Bank Headquarters, Washington DC.
Economy

Goods trade deficit narrows in December as imports fall for third straight month

The Uganda goods trade deficit with its international partners contracted for the third straight month in December on a decline in goods imports, according to figures from the Bank of Uganda
Export containers at a port.
Economy

Exports rise most in 2 years in 2019 on surge in gold shipments

Uganda's export growth rose to a two-year high last year as a surge in gold shipments helped shake off the effects of a border crisis with Rwanda, preliminary data show
Shipping containers on a container ship
Economy

Bank lending to the private sector rebounds in December

Bank lending to businesses rebounded to a four-month high in December, largely driven by an increase in lending to the building, mortgage, construction and real estate; trade; and agriculture sectors
Apartment blocks in Nalya Housing Estate, Kampala
Economy

Private sector growth hits record in January

Growth in Uganda's private sector rebounded to a record high in January as demand further improved, according to a survey by IHS Markit
Workers on a construction project
Economy

Consumer price inflation moderates in January

Uganda consumer price inflation moderated in January after striking its highest level in fifteen months in the previous month, lowering the probability that the Bank of Uganda will depart from its accommodative monetary policy when it sets interest rates later this month
Taxi park in Kampala
Economy

Private sector closes out 2019 on strong note despite easing

Private sector output in Uganda eased slightly in the last month of 2019, although it maintained a strong growth trajectory, data from global research firm IHS Markit showed on Monday
A retail shopping centre in downtown Kampala, Uganda
Economy

Inflation ticks up to highest level since September 2018

Uganda's inflation rose to a fifteen-month high in December 2019, driven by a rise in the annual food crops and related items inflation
Woman selling food in a market
Economy

Bank of Uganda keeps rates unchanged to boost slowing economy

A slowdown in global economic activity and subdued domestic demand has weakened the economy and made clear the need for monetary and fiscal stimulus to support stronger growth, the Bank of Uganda has said
Bank of Uganda's head office in Kampala.
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