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 ...
Uganda’s sustainable development journey is not only about incomes. This journey is about human beings: education, social development and many other parameters as spelled out in the 20230 Agenda and 17 sustainable Development Goals (SDGs), in the Millennium Development Goals (MDGs) at the turn of the century, and in the early decades since ...
Uganda’s arc of development. Tim Dobermann, IGC’s Research Director, defined structural transformation as a movement along the arc of development. He explained it as the transition from subsistence activities to specialised productive wage work producing diverse products and services (see Figure 2). The movement along the arc triggers the ...
The Context. Over the past two decades, Uganda has experienced high economic growth and a significant decline in poverty. The economy of Uganda grew by more than 5 per cent in 2022 while the agriculture, forestry and fishing sector grew by almost 5 per cent.. Despite this, approximately one in four rural people live in poverty compared to just over one in ten people in urban areas.
Uganda is far from being self-sustainable in economic development. It continues to be heavily reliant on foreign aid . The country received $2.1 billion in 2019, representing almost 43% of its ...
No, Uganda is classified as a Least Developed Country by the United Nations. Why is Uganda a less developed country? Uganda has faced chronic political instability, poor economic management, and various development challenges, leading to economic decline and making it one of the world’s poorest and least-developed countries.
A significant challenge Uganda face is its reliance on external financing, particularly in light of global monetary tightening and rising borrowing costs. However, Uganda’s external debt profile is relatively favorable, as it is predominantly owed to multilateral creditors such as the World Bank, IMF and African Development Bank.
Uganda’s quest for strong industrial growth and development is on an upward trajectory. Latest data sets suggest that Uganda has over 5,000 operational industries in various sectors. Jinja remains Uganda’s industrial hub with over 100 industries, more than double the number of industries it had in its heydays.
The Ugandan government, through the Ministry of Finance, Planning and Economic Development (MoFPED), has set a bold target to increase the size of the economy from about $50 billion in the 2023/24 Financial Year (FY) to $500 billion by 2040.This tenfold growth strategy is anchored on four primary sectors: Agro-industrialization, Tourism development, Mineral development, and Science, Technology ...
The question of whether Uganda is more developed than Kenya is complex, and the short answer is no, Kenya is generally considered more developed than Uganda. While both nations are vital players in East Africa, and Uganda shows promising progress in certain areas, Kenya currently holds an edge across multiple development metrics.
Uganda’s growth is estimated to reach 6.0% in FY24 from 5.3% in FY23, despite global economy instability, geopolitical tensions, and regional conflicts. Growth is supported by favorable weather conditions, investments in the oil sector, and progress on implementation of the Parish Development Model (PDM). The first phase of the PDM – the ...
To attain long-term growth and development, the government of Uganda has pursued long-term economic planning since independence. During the first 10 years of independence (1962–1971) Uganda developed two medium-term plans which were interrupted by the ‘economic war’ plan in the 1970s.
Uganda's urbanisation rate is increasing by about 5% annually, with cities like Kampala accounting for over 70% of non-agricultural economic activity.Meanwhile, nearly 39% of Ugandan households rely on subsistence farming, facing issues like limited market access and financial constraints . The government has introduced various development models to address rural poverty and promote market ...
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.
Uganda's Future on the Global Stage If Uganda can navigate these challenges, the next 15 years could redefine its future and solidify its place as a leader in Africa's economic development.
The city’s healthcare and educational facilities have also seen significant improvements, making it one of the most developed cities in Uganda. 9. Masaka. Masaka, situated in central Uganda, is a city with a rich history and a bright future. The city has experienced significant development, especially in infrastructure, healthcare, and education.
