Uganda Economic Update 14 UGANDA ECONOMIC UPDATE Strengthening Social Protection to Reduce Vulnerability and Promote Inclusive Growth 14th Edition February 2020 i. UGANDA ECONOMIC UPDATE Strengthening Social Protection to Reduce Vulnerability and Promote Inclusive Growth 14th Edition February 2020. Get the latest in African news delivered straight to your inboxTo complete the process, please follow the instructions in the email we just sent you.There was a problem processing your submission. Uganda’s economy will probably expand at the slowest pace in more than three decades this year due to the fallout from the coronavirus pandemic, a … Economic growth contracted to 1.8 per cent in the third quarter of the 2019/20 financial year compared to 7.3 per cent in the same period in the 2018/19 financial year.The decline, which covers the period from January to March 2020, according to Uganda Bureau of Statistics (Ubos), was mainly a result of Covid-19, which had around the time caused a shutdown in a number of Uganda's key trading partners.While releasing data on the status Uganda's growth in Kampala last week, Ms Aliziki Kaudha Lubega, the Ubos director for macroeconomic statistics, indicated that the agricultural sector grew by 1.3 per cent in the period compared to 8.1 per cent in the same period in the 2018/19 financial year.This was mainly supported by resilient growth in the cash crops and livestock sectors, which, in the period, grew by 9.5 per cent and 7.7 per cent, respectively.Combined, agriculture contributed at least 20.5 per cent of quarterly gross domestic product in the period compared to 21 per cent registered in the same period in the 2018/19 financial year.Manufacturing registered a decline of 3.1 per cent, falling to 7.4 per cent from 10.5 per cent in the same period in the 2018/19 financial year.The sector at least contributed 27.1 per cent of quarterly gross domestic product compared to 27.3 per cent in the same period in the 2018/19 financial year.Ms Kaudha noted that declines in manufacturing and mining and quarrying contributed immensely to the contraction in the economy during the period.However, she said that while building and construction had grown by 7.6 per cent, the services sector had slowed to 2.5 per cent in the period compared to 6.1 per cent in the same quarter in the 2018/19 financial year.The services sector, according to Ms Kaudha, mainly benefited from an increase in public administration and information and communication technology activities, which grew by 12.7 per cent and 35.1 per cent, respectively during the period.The services sector, she said, continue to be the biggest contributor to gross domestic product, representing 44.5 per cent in the period compared to 43.9 per cent.AllAfrica publishes around 800 reports a day from more than Articles and commentaries that identify allAfrica.com as the publisher are
That’ll be the lowest rate of expansion since 1986 and means that real per-capita GDP is contracting.Global travel restrictions to contain the spread of the virus hurt Uganda’s tourism, trade and industry, and banking, as well as remittances and foreign direct investments, according to the Finance Ministry. The … Access the latest politics analysis and economic growth summary through 2011 for Uganda from The Economist Intelligence Unit Please try again later.Covid-19 - 10 Health Workers, 68 Patients Quarantined At Kabale HospitalMan, 48, Arrested Over Infecting Five Minors With HIV /AidsTumukunde to Muslims - Stand Up, Speak for YourselvesWhat Will Influence Voters' Decision in 2021 ElectionsIs a Middle Ground Possible Between Politics and Public Health in This Era?All Arms of Government Are Subordinate to ConstitutionYoung Guns Take On Veterans in Battle for NRM Top PositionsKabale Muslim Community in Panic After Imam Tests Positive for Covid-19If You're Trying to Tell the Pulse of a Country, Listen to Its ArtistesOpposition Leader Besigye 'Not Quitting' Ugandan StruggleUganda's Khainza Energy Is Weathering Covid-19 and Saving LivesWhat Kenya's Ban On Brown Sugar, Cane Means for UgandaCovid-19 - 10 Health Workers, 68 Patients Quarantined At Kabale HospitalMan, 48, Arrested Over Infecting Five Minors With HIV /AidsTumukunde to Muslims - Stand Up, Speak for YourselvesWhat Will Influence Voters' Decision in 2021 ElectionsAll Arms of Government Are Subordinate to ConstitutionYoung Guns Take On Veterans in Battle for NRM Top PositionsKabale Muslim Community in Panic After Imam Tests Positive for Covid-19If You're Trying to Tell the Pulse of a Country, Listen to Its ArtistesJealous Man Kills One-Year-Old Nephew After Accusing Mum of InfidelityWest Lango Diocese Reverend Perishes in Road AccidentHow Quack Health Workers Are Putting People's Lives At RiskSix Traders Arrested in Demo Over Closure of AcardesElection Period Is in High Gear As Political Parties Hold NominationsMan Who Killed Rafiki, Uganda's Rare Silverback Mountain Gorilla, JailedReturn of Regional Airlines - the Long and Uncertain WaitNamayingo Grappling With High Maternal, Child DeathsMnangagwa, Chiwenga Tensions Intensify After Epic Politburo ClashMnangagwa Cuts Off VP Chiwenga's Access to Zimbabwe's MilitaryUganda: Kampala-Entebbe Expressway, World's Most Expensive Road?Kenyans Facing Hunger, Job Cuts as Covid-19 Ravages NationBig Brother Naija 2019 Kicks Off With 21 HousematesRegina Daniels Accused of Marrying Ned Nwoko for Money! Uganda's economic growth is expected to decline by more than half in the financial year to June 30 due to the effects of the COVID-19 crisis, the country's statistics office said on Monday. Economic growth contracted to 1.8 per cent in the third quarter of the 2019/20 financial year compared to 7.3 per cent in the same period in the 2018/19 financial year. We operate from Cape Town, Dakar, Abuja, Johannesburg, Nairobi and Washington DC. Agriculture grew at just 3.8%. For example, although the economy grew by an average of 4.5% year on year between FY15/16 and FY17/18, the number of people living in poverty increased in the same period from 19.7% in FY15/16 to 21.4% in FY17/182. It is one of the few African countries praised by the World Bank , the International Monetary Fund , and the international financial community for its economic policies of government divestiture and privatization and currency reform. This work is a product of the staff of The World Bank with external contributions. Services growth averaged 7.6% in 2019, and industrial growth 6.2%, driven by construction and mining. The Gross Domestic Product (GDP) in Uganda expanded 2.50 percent in the first quarter of 2020 over the previous quarter.
Uganda’s recent high economic growth rates have not been accompanied by high growth in jobs. The country has eased some lockdown measures, although it’s yet to open borders and allow passenger flights.Uganda will probably only receive $670 million of the $1.9 billion it negotiated for its infrastructure projects and 2019-2020 spending plan as other creditor countries also battle the virus, the report said.A locust invasion and flooding in Africa’s biggest coffee exporter earlier this year will probably weigh on agricultural output, the World Bank said. AllAfrica is a voice of, by and about Africa - aggregating, producing and distributing 800 news and information items daily from over 130 African news organizations and our own reporters to an African and global public. Retail, construction, and telecommunications were key economic drivers.