Analysis by Region - Emerging Markets - Uganda

Analysis by Region - Emerging Markets - Uganda

Despite the impact that rising inflation and monetary tightening, economic growth remained robust in the first half of the year. However, the impact of an intensifying inflationary environment, a weaker shilling, rising interest rates and the recent Ebola outbreak are all expected to add to downward pressure on growth in the second half of the year. Consumer spending and economic activity in general will come under increasing pressure. We expect GDP growth to come in at 5.0% this year and to remain at that level in 2023.