Uganda's Economy Remains Steadfast, Says Latest Bou Report

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Even without a governor at the helm after the fall of the longest serving banking executive on the continent, Prof. Emmanuel Tumusiime Mutebile, the bank has remained steadfast, on its mandate of maintain macroeconomic stability.

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According to the bank's performance report of 2022/2023 period, inflation among other metrics has been maintained below the macroeconomic target of below 5% in comparison to her regional counterparts.

Economist David Walakira makes sense of these performance metrics,"The bank has performed well, on some metrics but on the parameter of inflation, it is largely driven by factors beyond the central bank's control." " Our inflation here is largely seasonal driven. The Central bank rate of 9.5% doesn't translate easily into driving the prices of capital down. The inflation targeting done by the bank is on assumption that the prices of credit will reduce , but how many people are banked," Walakira remarked .There was a problem processing your submission. Please try again later.

The regional outlook on the inflation as of September 2023, puts Uganda ahead of her peers as the annual inflation is at 2.7% up from 3.5%, Kenya at 6.8% up from 6.7%, Tanzania maintained at 3.3% Rwanda from 17.4% up from 17.3%.

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