Uganda Economy Expected to Grow in 2012/13

Uganda’s economy is expected to grow by 5.4 percent in the 2012/13 (July-June) fiscal year from an estimated 5 percent this fiscal year, while total government expenditure is expected to rise slightly, the Ministry of Finance said on Thursday.

The ministry said in a budgetary framework paper that they expect the amount of money available for spending to rise to 7.3 trillion shillings from 7.2 trillion shillings this fiscal year.

“GDP growth is expected to recover… due to the expected strong investments in agricultural production and productivity, power and roads, and restoration of macroeconomic stability,” the ministry said, according to Reuters.