Find visitors' favorite businesstravel Hotels And.... Book your best!

ad. Buy Grade A Premium Uganda Vanilla Beans NOW Available for Export  

IMF Downgrades Uganda GDP to 4 percent


With about three months to the end of the 2011/2012 financial year, a senior economist at the Uganda Bureau of Statistics has said Uganda may not achieve the projected real Gross Domestic Product if the current economic volatilities continue.

Dr Chris Ndatira Mukiza, the Ubos director macro-economic statistics, said last week that if things remain the way they are, Uganda will not hit its GDP target unless serious mitigations are undertaken to boost productivity.

The IMF last week further downgraded Uganda’s GDP growth to 4 per cent from an earlier downgrade of 5.5 per cent that was revised from 6.4 per cent last year.

The downgrade is premised on the current tough economic environment, characterised by double digit inflation, weak performance of the local unit and high lending rates, which have constrained productivity.

According to data released last week, quarterly GDP for the October-December quarter of 2011/2012 is estimated to have declined by 2.3 per cent from Shs5.7 trillion, compared to Shs5.5 trillion.

GDP - the measure of economic performance – refers to the market value of all final goods and services produced within a country in a given period. It is also used as a primary indicator to gauge the health of a country’s economy.
The decline in quarterly GDP resulted from slowed activity exacerbated by the central bank’s tight monetary policy, which cut back on private sector credit as well as the high cost of imported raw materials resulting from the depreciation of the shilling and inadequate electricity supply.

ndustrial sector value added declined further by 12 per cent in the second quarter of the current financial year to Shs1.2 trillion from Shs1.4 trillion, representing a 3.5 per cent fall for the July – September quarter.

However, the services sector’s value added grew by 3.5 per cent to Shs3.3 trillion in the second quarter from Shs3.2 trillion, a 5.9 per cent growth was registered in the first quarter, due to growth in wholesale and retail trade, hotels and restaurants, transport and communication and financial services.

Agriculture also grew by 3 per cent from Shs785 billion to Shs809 billion over the period under review.

By Faridah Kulabako : The Monitor Newspaper

Click here to post comments

Join in and write your own page! It's easy to do. How? Simply click here to return to Africa Uganda Business Travel News .

Haven't yet found what you Want...?

If you haven't yet found what you were looking for or you need detailed information about the subject matter on this page


feel free to ask our business travel consultants.

Book a Prisons & Correctional
Charity Tour

Farmland for Sale
Prime Commercial Property
Entebbe Rd Land 4 Sale
Over 20 Farmland Parcels
Property & Plots of Land

Uganda Online SuperMarket
Online SuperMarket

Uganda Coffee Safari
Book My Coffee Tour

Uganda Honey
Uganda HoneyComb

Subscribe to our Business Travel Newsletter

Enter Your E-mail Address
Enter Your First Name (optional)

Don't worry — your e-mail address is totally secure.
I promise to use it only to send you Africa Uganda Business Travel News Digest.

Hotel Booking

Car RentalCar Hire

Africa Uganda Shipping & Handling ServicesShipping & Handling Services

Our Sponsorship Policy

Apple Guavas available
Africa Uganda Plants GuideAfrica Plants Guide

Charity Investment Guide
Changing Lives

Africa Uganda SMS Guide
Africa Bulk SMS

Poultry Investment Guide
Poultry Business Guide

Related Pages

Uganda Hotels Directory

Uganda Hotels Booking Guide

Houses U can buy Uganda Real Estate Guide Industrial/Farmland Deals

Uganda Real Estates Guide

The Mountain Gorilla

Uganda Safari Guide

Uganda Weather Today

Book My Hotel

Please note that all fields followed by an asterisk must be filled in.

Please enter the word that you see below.


Uganda Currency