Country Economic Forecasts > Uganda

The presidential and legislative elections in February were relatively peaceful and predictable, with President Yoweri Museveni retaining power for another five years at least few were surprised by the outcome. There was some controversy following the elections and protests may still occur in Kampala, but any uncertainty has now generally passed. Economic growth remains solid. Strong growth in the services sector, particularly in information technology and financial services, together with continued public investment, lifted GDP growth to an estimated 5.9% last year. Looking ahead, GDP growth is expected to slow somewhat this year to about 5% due to tight monetary conditions and fiscal concerns related to implementation capacity. But the pace should then pick up to some 6-7% a year over the medium term.