By Silvia Nyambura
Uganda’s economy is projected to grow at 5.8 percent in the next financial year, the Minister of Finance Matia Kasaija has said. This is pegged largely on account of the recovery in private sector consumption, as well as acceleration in both public and private investment. In addition, government will continue to invest heavily in infrastructure over the next few years.
Making his maiden budget speech this afternoon, Kasaija said this strategy will address the constraints to private sector growth and increase efficiency in service delivery.
Development expenditure is budgeted to grow by 58% for financial year 2015/2016 mainly driven by major infrastructure projects like rehabilitation of Entebbe International Airport, new roads and the Karuma and Isimba hydropower projects.
“This represents 11.29 % of GDP next year compared to 7.95% this year,
