Uganda's economy grows at 6% in FY23/24 due to oil-related construction and mining growth, despite climate shocks and a challenging global environment.
Uganda's economy is resilient, with real GDP growth accelerating to an estimated 6% in FY23/24 amid intensifying climate shocks and a challenging global environment. This growth is driven by oil-related construction activity and the growth of the mining and quarrying sector, benefiting from increased gold prices. The World Bank's Uganda Economic Update recommends improving public spending on health to strengthen human capital and boost productivity.
June 27, 2024
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