By Silvia Nyambura
Uganda’s real GDP is expected to grow to 5.5% in 2016. This growth will be driven by spending in public infrastructure. The discovery of oil also holds much promise with the country being on track for first oil in the medium term even though it is moving slower than its Sub Sahara Africa peers in that sector. These are the observations of Razia Khan the Chief Economist for Africa, Standard Chartered Bank.
Addressing the media at the Bank’s headquarters in Kampala yesterday, Khan also explained Uganda’s current account deficit is expected to remain wide in 2016.
“Uganda’s task will be to attract cash inflows to cater for this deficit. There are a lot of investments happening in the country that savings alone cannot be able to fund. The country’s exports need to grow faster. In addition, there is need to create a domestic savings base and long term structural reforms to build revenue,
