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    Uganda’s economic growth projected over 5% in 2018

    APA-Kampala (Uganda)

    Uganda’s central bank has projected Uganda’s economic growth to rise by five percent in 18, due to the strengthening of economic activity in the country.

    According to a monetary policy statement by Bank of Uganda, the economy is projected to perform better in 2018, driven largely by investments in oil and gas and improvements in other key sectors of the economy.

    Deputy Bank of Uganda Governor Dr Louis Kasekende said in the medium term, the economy is expected to expand at a solid pace boosted by public investments, growth in consumption and the current stimulating monetary policy.
    According to the statement, key economic things to look out for in 2018 would likely include tightening of monetary policy triggering increase in lending rates, completion of the Isimba Dam leading to an increase in power supply, and more public investments, particularly the standard gauge railway, roads, dams and other projects.
    PricewaterhouseCoopers, in its second edition of Uganda's economic outlook, outlines likely “challenges” to the Ugandan economy in 2018, including instability in the Democratic Republic of Congo, now Uganda's biggest trading partner, and the continuing conflict in South Sudan which it warned will further constrain the economy.


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