Uganda: Staff Report for the 2015 Article IV Consultation and Fourth Review Under the Policy Support Instrument

July 7, 2015

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Uganda: Staff Report for the 2015 Article IV Consultation and Fourth Review Under the Policy Support Instrument, (USA: International Monetary Fund, 2015) accessed November 21, 2024

Summary

This 2015 Article IV Consultation highlights that Uganda’s recent economic performance has been favorable. Real GDP growth is projected at 5.24 percent for FY2014/15 supported by a fiscal stimulus and a recovery in private consumption. Annual core inflation increased to 4.75 percent in May, from very depressed levels, mainly fueled by the shilling depreciation pass-through. The current account deficit is set to widen to about 9 percent of GDP reflecting increasing capital goods imports, but international reserves remain adequate. The outlook is promising. Growth is estimated at 5.75 percent in FY2015/16 and an average 6.25 percent over the medium-term.

Subject: Banking, External debt, Inflation, Infrastructure, Labor, National accounts, Oil production, Prices, Public debt

Keywords: Africa, Authorities' monetary policy, Core inflation, CR, Current account, East AFRITAC, GDP, Global, Government, Inflation, Inflation consultation clause, Inflation targeting framework, Infrastructure, ISCR, Medium term inflation target, Real GDP, Sub-Saharan Africa

Publication Details

Pages:

143
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2015/175
Stock No:

1UGAEA2015001
ISBN:

9781513572413
ISSN:

1934-7685

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