This information comes after the country’s finance ministry reported that Uganda’s economy expanded 6.8% in the first half of the fiscal year 2022–23, which runs through the end of June, up from 3.7% in the same time last fiscal year.
Following a pick-up in economic activity, according to the preliminary estimates of the Gross Domestic Product (GDP) released by the Uganda Bureau of Statistics (Ubos), Uganda’s economy expanded by 5.3% in the fiscal year 2022/2023 as opposed to the 4.6% recorded in the financial year 2021/2022.
Dr. Chris Ndatira Mukiza, executive director of Ubos, said the size of the economy in nominal terms increased to Sh184.28 trillion in the Fiscal Year 2022/2023 from Sh162.88 trillion in the Fiscal Year 2021/2022 when he presented the preliminary annual gross domestic product for the fiscal year 2022/23 in Kampala on Wednesday.
