Uganda economy shows resilience as growth forecast rises
Uganda’s economy has remained stable and resilient despite global geopolitical tensions, a senior government official has said.
Ramathan Ggoobi, permanent secretary at the Ministry of Finance, Planning and Economic Development, told reporters on Thursday that economic growth is expected to strengthen in the current financial year, News.az reports, citing Xinhua.
Gross domestic product is forecast to expand by 7.0% in the 2025/26 financial year, which runs until 30 June, up from 6.3% recorded in the previous year.
Preliminary figures also suggest the economy grew by 8.5% in the second quarter of the current fiscal year, compared with 5.4% during the same period a year earlier.
Mr Ggoobi attributed the improved performance to strong aggregate demand, increased investment and higher exports. Growth has been supported by rising output across key sectors, including industry, services, agriculture, forestry and fishing.
By the end of June, the country’s GDP is projected to reach $68.4bn, with GDP per capita estimated at $1,399, according to finance ministry data.
He also pointed to the strong performance of Uganda’s currency, noting that inflation has remained contained. Annual headline inflation is averaging 3.3% this financial year, below the central bank’s target of 5%.
Officials say the figures underline Uganda’s ability to withstand external shocks, even as global economic uncertainty persists.
By Faig Mahmudov
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