Country Economic Forecasts - Uganda
The Uganda Bureau of Statistics reported that economic growth in Q3 2021 slowed down to 3.8% y-o-y after an expansion of 12.9% y-o-y in Q2 2021, the latter having been supported by base effects. Leading indicators point towards a stronger Q4, with momentum spilling over into the new year. At the start of 2022, the government fully reopened the economy, allowing schools and the night-life sectors to reopen after facing restrictions for almost two years. Overall, we see growth slowing to 3.8% in 2022 as base effects disappear.
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