Current Account in Uganda
Uganda - Current AccountAccording to preliminary data, annual GDP growth accelerated to 4.6% in the 12 months to June 2022, up from 3.5% in the previous fiscal year. However, the expansion remained below its pre-pandemic level. The acceleration in FY 2022 was driven by improved momentum in the services sector—particularly wholesale and retail trade, real estate activities and education—and likely aided by the reduced impact of Covid-19 and the reopening of schools. Industrial output also picked up amid a surge in mining output, while agricultural output growth was steady, as a recovery in fishing offset slower cash crops growth. In politics, in mid-June the government announced a fairly cautious FY 2023 budget, despite public demands for more support to offset the rising cost of living. The budget projects a roughly 7% rise in nominal spending—far below the expected increase in revenue—and a smaller fiscal deficit.
Uganda - Current Account Data
|Current Account (% of GDP)||-6.2||-2.8||-4.5||-7.2||-9.5|
5 years of economic forecasts for more than 30 economic indicators.
Uganda Current Account Chart
Source: Bank of Uganda
|Bond Yield||15.75||1.02 %||Dec 31|
|Exchange Rate||3,670||0.17 %||Dec 31|
|Stock Market||0.3||0.0 %||Jan 07|
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