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Uganda economy to grow by 7% – IMF

Uganda's economy is on an upward trajectory, with the International Monetary Fund forecasting a 7% growth in the fiscal year 2024/2025. It emphasizes the nation's recovery, marked by a decrease in inflation and strong agricultural, industrial, and service sectors.

Uganda economy to grow by 7% – IMF

Uganda's economy is on an upward trajectory, with the International Monetary Fund forecasting a 7% growth in the fiscal year 2024/2025. This optimistic outlook follows the IMF's fifth review of Uganda's Extended Credit Facility Arrangement, which emphasizes the nation's recovery, marked by a decrease in inflation and strong agricultural, industrial, and service sectors. The IMF advises Uganda to prioritize social spending, maintain sustainable debt levels, and strengthen governance to further enhance economic growth. With strategic investments, particularly in the oil sector, Uganda's growth is expected to align with its pre-pandemic rates, bolstered by robust exports in coffee and gold.