Uganda’s economy seen expanding by up to 4.5% in year to end-June – FinMin

Employees pour liquid gold into a mould for the production of an ingot during the refining process at AGR (African Gold Refinery) in Entebbe, Uganda, October 4, 2018. REUTERS/Baz Ratner

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KAMPALA, May 17 (Reuters) – Uganda’s economy is seen expanding by between 3.8%-4.5% in the fiscal year to end June from 3.4% growth in the same period in 2021, helped by the easing of restrictions aimed at containing COVID-19’s spread, its finance minister said on Tuesday.

“The economy continues to show signs of recovery following the easing of the lockdown,” Matia Kasaija said in a statement sent to the media.

He did not give specific details of what was driving the growth.

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In January, the Uganda government fully re-opened the economy, lifting all the remaining anti-coronavirus measures including allowing education and entertainment sectors to resume activity. read more

The East African country implemented one of Africa’s most strict and sweeping lockdowns to curb the spread of COVID-19.

In the statement, Kasaija said the next financial year, which starts in July, would give priority to measures aimed at blunting the economic impact of the pandemic, supporting industrialisation and agriculture to create jobs.

Kasaija is expected to read his budget speech to parliament on June 9.

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Reporting by Elias Biryabarema; Editing by George Obulutsa and Barbara Lewis

Our Standards: The Thomson Reuters Trust Principles.

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