{"id":50862,"date":"2023-06-15T21:03:29","date_gmt":"2023-06-15T21:03:29","guid":{"rendered":"https:\/\/www.africa-press.net\/uganda\/all-news\/ugandas-economy-has-remained-resilient-kasaija"},"modified":"2023-06-15T22:16:31","modified_gmt":"2023-06-15T22:16:31","slug":"ugandas-economy-has-remained-resilient-kasaija","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/uganda\/all-news\/ugandas-economy-has-remained-resilient-kasaija","title":{"rendered":"Uganda\u2019s economy has remained resilient- Kasaija"},"content":{"rendered":"

Africa-Press – Uganda. <\/strong><\/span>Finance Minister Matia Kasaija said Thursday that the country\u2019s economy is projected to have grown by 5.5 percent compared to 4.6 percent last year.<\/p>\n

According to him, Uganda\u2019s economy has remained resilient, and is on a steady recovery path.<\/p>\n

\u201cThis year\u2019s performance compares favorably with the average growth rate for Sub-Saharan Africa estimated at 3.6 percent for calendar year 2023. The size of the economy is estimated at Shs184.3 Trillion, compared to Shs. 162.9 Trillion last year. This is equivalent to US$ 49.4 billion compared to US$ 45.6 billion last year,\u201d Mr Kasaija said during 2023\/2024 national budget reading at Kololo ceremonial grounds in Kampala.<\/p>\n

According to him, the economy\u2019s expansion is on account of good performance of the services sector which grew at 6.2 percent, compared to 4.1 percent in the previous year.<\/p>\n

\u201cAgriculture has also performed strongly growing by 5.0 percent, despite the dry spell in the first quarter of the financial year. In particular, food crops, livestock and fishing performed well. Industry grew at 3.9 percent, driven largely by manufacturing and construction activities, especially in the oil and gas industry,\u201d he added.<\/p>\n

Inflation, according to Mr Kasaija, is reducing steadily on account of well-coordinated fiscal and monetary policy.<\/p>\n

\u201cInflation has significantly decreased since October 2022 when it peaked at 10.7 percent. Last month, the pace at which prices were rising slowed down to 6.2perecnt. Prices of key items such as soap, sugar, fuel at pumps, among others, have significantly reduced,\u201d he argued.<\/p>\n

With respect to the cost of money, commercial bank lending interest rates have increased slightly to 19.3 percent in April 2023 from 18.8 percent in April 2022, according to the minister.<\/p>\n

\u201cThis was mainly caused by the increase in the Central Bank Rate to 10% since October 2022, in order to fight inflation,\u201d he said.<\/p>\n

For More News And Analysis About Uganda<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Uganda. Finance Minister Matia Kasaija said Thursday that the country\u2019s economy is projected to have grown by 5.5 percent compared to 4.6 percent last year. According to him, Uganda\u2019s economy has remained resilient, and is on a steady recovery path. \u201cThis year\u2019s performance compares favorably with the average growth rate for Sub-Saharan Africa […]<\/p>\n","protected":false},"author":84,"featured_media":50861,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,7,8,12,258],"tags":[233,240,234],"class_list":["post-50862","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-head-lines","category-homepage-english","category-policy","category-to-homepage","tag-africa-press","tag-africa-press-uganda","tag-uganda"],"yoast_head":"\nUganda\u2019s economy has remained resilient- Kasaija - Uganda<\/title>\n<meta name=\"description\" content=\"Finance Minister Matia Kasaija said Thursday that the country\u2019s economy is projected to have grown by 5.5 percent compar ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/uganda\/all-news\/ugandas-economy-has-remained-resilient-kasaija\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Uganda\u2019s economy has remained resilient- Kasaija\" \/>\n<meta property=\"og:description\" content=\"Finance Minister Matia Kasaija said Thursday that the country\u2019s economy is projected to have grown by 5.5 percent compar ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/uganda\/all-news\/ugandas-economy-has-remained-resilient-kasaija\" \/>\n<meta property=\"og:site_name\" content=\"Uganda\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2023-06-15T21:03:29+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-06-15T22:16:31+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/uganda\/sites\/34\/2023\/06\/sm_1686851111.968859.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"683\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/ugandas-economy-has-remained-resilient-kasaija#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/ugandas-economy-has-remained-resilient-kasaija\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/uganda\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Uganda\u2019s economy has remained resilient- Kasaija\",\"datePublished\":\"2023-06-15T21:03:29+00:00\",\"dateModified\":\"2023-06-15T22:16:31+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/ugandas-economy-has-remained-resilient-kasaija\"},\"wordCount\":303,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/ugandas-economy-has-remained-resilient-kasaija#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/uganda\/sites\/34\/2023\/06\/sm_1686851111.968859.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Uganda\",\"uganda\"],\"articleSection\":[\"all news\",\"head lines\",\"homepage-english\",\"policy\",\"to-homepage\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/uganda\/all-news\/ugandas-economy-has-remained-resilient-kasaija#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/ugandas-economy-has-remained-resilient-kasaija\",\"url\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/ugandas-economy-has-remained-resilient-kasaija\",\"name\":\"Uganda\u2019s economy has remained resilient- Kasaija - 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