Bank of Uganda Projects 5.5% Growth This Financial Year

Following a drop in Uganda’s inflation from 6.8 to 5.9 percent, Bank of Uganda is optimistic that the country’s economy will grow at about 5.5 percent this financial year. This, according to the governor Bank of Uganda Prof. Emmanuel Mutebile, is an indication that the economy is stable. It is for this reason that the Central Borrowing rate will be reduced by 1 percentage point to 14 percent.