mavii

A family in a market in Kampala. The economy of Uganda has great potential and appears poised for rapid growth and development. [17] Uganda is endowed with significant natural resources, including ample fertile land, regular rainfall, and mineral deposits.. Chronic political instability and erratic economic management since the implementation of self-rule has produced a record of persistent ...

Uganda’s economy has shown resilience despite recent global economic pressures. Growth accelerated to 6.1% in FY24, up from 5.3% the previous year, driven by broad-based expansion in the services (43.1% of the economy) and industrial (24.9% of the economy) sectors. ... easing global economic conditions, and the relative stability of the ...

Recent macroeconomic and financial developments Uganda’s economy expanded 4.6% in 2023, lower than the 6.3% registered in 2022. Despite strong performance in mining, construction, and hospitality, lower manufacturing output and contractions in food production and public administration led to the slowdown. Tight fiscal policy contributed to slower economic growth, despite large investments in ...

the next few years, and the on-going development of Uganda’s Third National Development Plan. In line with the structure of earlier editions of the Uganda Economic Update series, this report reviews recent economic developments, provides an outlook for the macro-economy, and then delves into the special topic of social protection.

Several factors underpin Uganda’s growth forecast, beginning with the government’s focused investment in critical sectors. Agriculture, which has long been a backbone of Uganda’s economy, stands to benefit from favorable weather conditions, supporting productivity in key crops such as coffee, maize, and bananas.

Overview. This outlook provides valuable insights into Uganda’s economic performance up to June 2024. The outlook covers a range of topics including the national budget for the current financial year 2024/2025, the economic growth trajectory, the impact of infrastructure development on public debt, a summary of the tax amendments, and strategies for enhancing revenue collection and strategic ...

A rapidly growing economy: Uganda has sustained impressive economic growth, averaging 5-6% per year, driven by agriculture, services, and a growing industrial sector. With a population exceeding 45 million, Uganda has a youthful workforce that presents opportunities for growth but also challenges in terms of employment generation.

Economic Status. Uganda has shown impressive economic growth, averaging 6.5% per annum in the 1990s and 2000s. Recent estimates project growth to reach 6.0% in FY2024, up from 5.3% in FY2023. The government aims to expand the economy from the current GDP of US$50 billion to US$500 billion by 2040. However, challenges remain:

The Ugandan economy remains resilient and is growing amid intensifying climate shocks and a challenging global environment. The outlook is positive, buoyed by diversified exports and investments in developing oil export infrastructure ahead of the start of oil production in 2025, according to the new World Bank Uganda Economic Update: Improving Public Spending on Health to Build Human Capital.

Uganda’s economy has shown remarkable resilience, recording an impressive 6.1 percent GDP growth in FY2023/24, according to the World Bank’s 24th Economic Update. ... This decline has been largely attributed to favorable weather conditions, which have improved agricultural yields and lowered food prices. Additionally, the Bank of Uganda’s ...

The IMF has indicated that Uganda’s economy is on an upward trajectory, ranking among the world’s fastest-growing, with a projected real GDP growth of 7.5% in 2025. Government of Uganda’s overarching goal is to fully monetize the economy to enhance self-sufficiency and cause structural transformation of the economy.

Share of Global GDP expressed as a percentage of the sum of GDP for all countries in the World Economics database. Displayed data relates to the latest data available: 2024. Projections for 2030 are made by applying IMF growth rates for 2025 and 2026, with the 5-Year Compound Annual Growth Rate (CAGR) applied thereafter to extrapolate the data ...

World Economics estimates Uganda's 2024 GDP at $217 billion in PPP terms (Purchasing Power Parity) and an initial estimate of $233 billion for 2025.This figure is 51% higher than the official estimate published by the World Bank.. World Economics' methodology incorporates crucial factors often overlooked in official estimates, such as:

The employment challenge in Uganda is attributed to the rapid population. Each year, 700, 000 Ugandans reach working age. But as a recent World Bank report shows, there are only jobs for 75,000 of them. Youth unemployment remains a major political and socio-economic challenge in Uganda despite the consistent economic growth in recent years.

Agro-Industrialisation: Agriculture Remains the Backbone of Uganda’s Economy. Submitted by edpr on Mon, 04/28/2025 - 12:31 . The 2024 Census reaffirmed that agriculture remains the primary source of income and sustenance for most Ugandans. Approximately 61% of households are engaged in crop production, while 37% are involved in livestock farming.

Favorable weather conditions and improved market access boosted yields of staple crops, supporting rural incomes and food security. The services sector, accounting for 50% of GDP, recorded significant expansion driven by tourism, telecommunications, and financial services. ... Uganda’s economic performance in 2024 exemplified resilience and ...

Uganda’s economic outlook is tied to its nascent energy sector: the IMF predicts its economy will grow over 7% in 2025 and possibly over 12% in 2026, depending on when oil production begins ...

Uganda's proposed budget for the 2025/2026 financial year has grown 25% to 71.9 trillion shillings ($19.6 billion), compared to the previous projection of 57.4 trillion shillings given in ...

The Bank of Uganda’s December 2024 State of the Economy report highlights Uganda’s stable economic growth, improved revenue collections, controlled inflation, and resilience to external shocks...

Uganda's economic outlook for 2024 appears promising as Global Research firm BMI projects a real GDP growth of 5.8 per cent after a slowdown to 4.6 per cent in 2023.