COVID-19: Uganda gov’t revises growth rates from 6% to between 4.6% -5.7%; warns up to 2.6 million could relapse into poverty in worst case scenario While government has conservatively reduced Uganda’s growth prospects for FY2019/20 from 6% to between 5.2%- 5.7% depending on the severity of the COVID-19, Matia Kasaija the finance minister has warned that in a worst-case scenario, COVID-19 could hurt Uganda’s growth prospects, to between 4.6% and 5.1%, thereby pushing up to 2.6 million back into poverty.

The Uganda Minister of Finance, Planning and Economic Development has today told Parliament that Corona Virus Disease- COVID-19 will significantly affect Uganda’s economy, so much so that up to 2.6 million could sink bank into poverty depending on the severity of the disease. In his statement on the economic impact of COVID-19 on Uganda, presented to parliament today, Matia Kasaija, the Finance Minister said that the biggest impact will be on the services sector especially travel and tourism, including hotels and accommodation, adding that the resulting supply chain disruptions especially caused by travel restrictions will curtail import and export trade…