IMF sees Uganda 2017/18 growth at 5 per cent

The East African - - BUSINESS -

Uganda’s econ­omy is pro­jected to ex­pand by 5 per cent in the 2017/18 fis­cal year, up from 4 per cent in the pre­vi­ous pe­riod, lifted by favourable weather, the In­ter­na­tional Mon­e­tary Fund said. The coun­try is Africa’s big­gest cof­fee ex­porter followed by Ethiopia and also cul­ti­vates a range of other agri­cul­tural com­modi­ties in­clud­ing tea, co­coa and to­bacco. “Growth is pro­jected to reach 5 per cent in 2017/18 (July-june) from 4 per cent in 2016/17, supported by bet­ter weather con­di­tions,” the IMF said in a state­ment last week.

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