Details

  • Type: KPMG information
  • Date: 7/9/2015

KPMG Uganda Budget Brief 2015 

The overall performance of the Uganda economy as measured by the real GDP at market prices is estimated to have grown from 4.5% in 2013/14 to 5.3% for the financial year 2014/15. This growth reflects almost a full recovery from the slowdown that happened in the financial year 2012/13.
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The growth is mainly attributed to:

  • Rebounding of cash crops from an average negative growth of 1.5% per year for the last five years to a positive growth of 6.6 % in this year.
  • Increase in the construction sector principally on account of infrastructure investment. 
  • Increase in Information and Telecommunications contributing to the services sector growth.

 

The IMF projects that Uganda’s GDP will grow by 5.8% in 2015/16 mainly supported by scaled-up public investment and recovery of private consumption supported by stronger credit growth.

 

Strong growth, subdued inflation, high international reserves, a sound financial system and relatively low government debt continue to provide buffers to shield the Ugandan economy against shocks.