Uganda Economic Update 21st Edition
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Washington, DC
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Economic activity in Uganda is
accelerating despite commodity-price inflation, global
monetary tightening, international supply-chain bottlenecks,
and a local Ebola outbreak. Real GDP growth is estimated to
reach 5.7 percent in FY22/23, albeit still below the
pre-COVID-19 projection of 6.5 percent. Growth has been
supported by a robust post-pandemic recovery in the services
sector, bolstered by the rapid growth of information and
communications technology. Real estate and construction also
performed well, while agriculture suffered from droughts in
some regions and heavy rains in others, as well as rising
input costs. The recovery of income and employment bolstered
demand, while private investment overcame tight domestic and
global financial conditions to sustain increases in new
exports and manufacturing orders into the third quarter of
FY22/23. As growth accelerated, Uganda’s per capita income
increased to about US$930 for FY21/22, edging closer to the
lower-middle-income threshold.
Palabras clave
ECONOMIC OUTLOOK, RECENT ECONOMIC DEVELOPMENTS, TOURISM AND JOBS, JOB MARKET DIVERSIFICATION, COVID-19 ECONOMIC RECOVERY, GDP GROWTH