A report by the Ministry of Finance, Planning and Economic Development indicates that banks gave out loans worth UGX2.65 Trillion to the private sector in the first quarter of the financial year 2020/2021.The Pre-Election Economic and Fiscal Update issued by Moses Kaggwa, the Acting Director Economic Affairs says that the approved and disbursed loans led to a cumulative stock of UGX17.221 Trillion in September 2020.This translates into a growth of 1.4 percent in the stock of outstanding private sector credit over the quarter. Kaggwa attributes the growth in credit to partly, the easing of prudential regulations by the Central Bank to…
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