President Yoweri Museveni has revealed that the country’s growth rates are higher than those of Sub Saharan Africa and the rest of the world.
Museveni made the claim in his Easter message delivered on Saturday saying the Ugandan economy is undergoing a robust ‘resurrection.’
“In Uganda’s case, we are undergoing our own ‘resurrection’ spearheaded by the NRM. For example, our economy is projected to grow by 6.3% this year, far above the Sub Saharan Africa and even global averages,” Museveni said.
He added, “For Christians this is a season to reflect on the mysteries of Christ’s life. His ultimate sacrifice through death and later resurrection gives us the lasting hope of salvation….A blessed Easter to you countrymen and women. I urge you to celebrate responsibly. God bless you.”
Economic forecasts indicate that Sub-Saharan Africa is projected to grow 3.4% in 2019, down 0.1 percentage points from last month’s forecast. In 2020, the region is expected to grow 3.8%.
According to the United Nations, Global growth is expected to remain at 3.0 per cent in 2019 and 2020, however, the steady pace of expansion in the global economy masks an increase in downside risks that could potentially exacerbate development challenges in many parts of the world, according to the World Economic Situation and Prospects 2019.
In addition, The International Monetary Fund (IMF) revised down its estimates for global growth recently, warning that the expansion seen in recent years is losing momentum. The Fund now projects a 3.5 percent growth rate worldwide for 2019 and 3.6 percent for 2020.
