Uganda says economy is 11.6 percent larger than previous estimate

THE UGANDAN government has claimed its economy is more than 11 percent larger than it previously thought.

Having rebased its calculations, the Uganda Bureau of Statistics told Reuters that the original 2018/19 fiscal year figure of 109.9 trillion shillings ($33 billion) now stands at 122.7 trillion shillings ($33 billion).

Several Southern African nations have been rebasing their economies in order to capture the output of industries such as IT and entertainment, Uganda’s last rebasing taking place in 2014.

Another addition to the country’s economy will be the production of crude oil, set to commence in 2022 from fields in the west.