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Economy to grow 7.5%

By The Independent Team

President Yoweri Museveni has projected Uganda’s economic growth to be as high as 7.5% in the year ending June 30, according to a statement issued by the government Media Centre President.

Mr Museveni based his projections on improved exports performance and investment in energy industries.

“While this target may seem ambitious given the global crisis, Ugandans need to know that it is lower than what we have achieved in recent years,” the president said.

The forecast is below the 8.9 percent rate at which Uganda’s economy grew the previous year but is above the 6.5 percent forecast given earlier by the ministry of Finance. The Governor of the Bank of Uganda has said that growth would shed off two percentage points to rest at 7% due to the global financial crunch.

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