Economy

Economy

IMF urges curb on government spending, praises BoU policy

Bank of Uganda's tight monetary policy has been successful in bringing down inflation to within target, the International Monetary Fund said on Tuesday. But it also raised concerns about high government spending and lower tax collections.
Economy

Uganda to grow 4.9% in 2016 – IMF

The Uganda economy is set to grow at 4.9% in 2016, according to a report released by the International Monetary Fund, slightly higher than the 4.8% registered in 2015. It also forecasts a real GDP growth of 5.5% in 2017.
Busy market in Kampala, Uganda
Economy

Financial sector is stable, Bank of Uganda says

The Central Bank released a statement on Monday disputing social media rumours on the state of the financial sector. Signed by the bank's director of communications, the statement says "the financial sector as a whole is stable, sound and resilient."
CompaniesEconomy

Crane Bank takeover — what you need to know, and implications

Bank of Uganda ended weeks of speculation about Crane Bank, announcing on Thursday that it is taking over management of the lender. Here is what you need to know about the central bank's move and what it means for Crane Bank and its customers.
CompaniesEconomy

Bank of Uganda takes over troubled Crane Bank, suspends management

Bank of Uganda has taken over the management of Crane Bank Limited, Emmanuel Tumusiime-Mutebile, governor of the central bank, told journalists at a hastily convened press conference on Thursday.
Economy

Bank of Uganda lowers key lending rate to 13%

Bank of Uganda has cut its benchmark lending rate by 100 basis points to 13%, saying its forecast of core inflation will remain around the medium-term target of 5% over the next 12 months and citing the need to support domestic economic growth.
Bank of Uganda officials during the Monetary Policy Press Briefing
DataEconomy

Imports of used cars down in 2015/16 due to environmental levy, but new cars and tax collections unaffected

The Uganda Revenue Authority cleared less motor-vehicles into the country in 2015/2016 than it did in 2014/16. The decline was due to a big fall in the number of used vehicles cleared; new vehicles cleared and taxes from car imports rose, however.
DataEconomy

Uganda GDP grows 1.4% in final quarter of 2015/16

Real Gross Domestic Product expanded at an annualised rate of 1.4% in the fourth quarter of financial year 2015/2016 (April - June), compared to a 0.1% (revised) decline in the third quarter, according to data from the Uganda Bureau of Statistics.
Busy market in Kampala, Uganda
DataEconomy

Inflation falls to 4.2% in September

Annual headline inflation fell for the third consecutive month, slowing to 4.2% in September 2016 from 4.8% in August, according to data from the Uganda Bureau of Statistics. Core inflation, which is targeted by the Central Bank, also fell to 4.1%.
A retail shopping centre in downtown Kampala, Uganda
Previous 1…4344454647 Next