Economy

Economy

Bank of Uganda governor expects “small rise” in GDP growth

The prospects for macroeconomic stability in the near to medium term are currently very good, according to the central bank governor. Economic growth in 2017 will be "close to the economy’s medium term potential growth of 5%," he said.
Emmanuel Tumusiime-Mutebi, the governor of the Bank of Uganda
Economy

Food prices drive rise in headline inflation in November

Inflation for the year ended November 2016 rose to 4.6% from 4.1% the previous month, the first increase since July, while core inflation - a key measure targeted by the Bank of Uganda - rose for the second consecutive month to 5.2%.
Economy

Banks to face tougher capital demands as regulator calls for stricter lending standards

Banks will have to set aside higher levels of capital in 2017, with an additional surcharge for the three domestically systemically important banks, to protect against possible shocks, Emmanuel Tumusiime-Mutebile, the governor Bank of Uganda said on Friday.
Economy

Why credit ratings matter and why they can’t be ignored

Investors use credit ratings as a guide to their investment decisions. Credit ratings provide an independent and objective assessment of the credit worthiness of countries and corporations
Bank of Uganda's head office in Kampala.
Economy

Coffee exports fall 6% year on year in October even as earnings rise

Uganda exported 209,478 60-kilogram bags of coffee worth $24.23 million in October 2016, a 6.15% decline in volume and 5.97% rise in value compared to the same period last year.
Economy

Moody’s downgrades Uganda’s credit rating, outlook stable

Ratings agency Moody's has cut Uganda's long-term issuer bond rating by one notch to B2 from B1, but changed the outlook from 'negative' to 'stable.' Moody's said the key driver of its downgrade is Uganda's "sustained erosion of fiscal strength."
The offices of the Ministry of Finance in Kampala.
Economy

Uganda economy to grow less than expected due to drought — minister

Uganda's economy is not in recession and has remained resilient despite several unfavourable conditions, finance minister Matia Kasaija told Parliament today as he delivered a statement on the state of the economy.
Uganda's minister of finance, Matia Kasaija
EconomyPolitics & Policy

Invest in agriculture to get economy back on track, leaders say

Political and business leaders believe that with recent reports of Uganda’s economic downturn, more government attention to agriculture - which employs most Ugandans - and increased investment in the sector will spur growth.
Economy

Inflation slows to 4.1% in October

Annual headline inflation slowed to 4.1% for the year ended October 2016 from 4.2% in September, according to data from the Uganda Bureau of Statistics. Core inflation however rose to 5.1% year-on-year from 4.1% (revised) in September.
EconomyPolitics & Policy

Ease of doing business: Uganda climbs seven places in World Bank ranking

Uganda has moved up seven places in the World Bank's latest Doing Business Report, coming in at 115 out of 188 economies. The report investigates regulations that improve or constrain the operations of small to medium-size domestic businesses.
Downtown Kampala
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