Bank of Uganda has acknowledged a more positive Economic growth outlook in Uganda than it was forecasted in the February monetary policy committee meeting.
While releasing April monetary police statement today, the governor bank of Uganda Prof. Tumusiime Mutebire said that Uganda’s economic growth is projected to grow by 6.5% in the next three years.
He said that this positive development is premised on the external scenarios, strong private and public investment, improved agriculture and others
He however said that despite all this private sector credit has remained week thus affecting future investments.
Consequently bank of Uganda has maintained central bank rate at 9% to counter current inflation especially annual headline inflations which now stands at 2%.