Following the outbreak of the Coronavirus, the central bank Governor, Professor Emmanuel Tumusiime Mutebile says that business is likely to slow down since businessmen cannot access China.
This he said based on the fact that Uganda imports 25% of their goods from China. The Professor is worried that the current economic situation might affect the country’s GDP projections.
“There is considerable uncertainty regarding the duration and severity of the Coronavirus outbreak. If it persists to an extended period, the effect on global economic activity is likely to be larger than currently projected,” said Mutebile.
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