PS Ramathan Ggoobi
KAMPALA, UGANDA | Xinhua | Uganda’s economy has proven to be stable and shown resilience amid shocks resulting from geopolitical tension, a senior official said here Thursday.
Ramathan Ggoobi, permanent secretary of Uganda’s Ministry of Finance, Planning and Economic Development, told reporters that the gross domestic product (GDP) growth is expected to accelerate to 7.0 percent in the current 2025/26 financial year, which ends on June 30, up from 6.3 percent in the financial year 2024/25.
Preliminary estimates show that the economy expanded by 8.5 percent in the second quarter of the current financial year 2025/26, from 5.4 percent recorded in the same period during the financial year 2024/25, he said.
The official attributed the growth to robust aggregate demand, investment, and exports, reflected by increased production in the industrial, services, agriculture, forestry, and fishing sectors of the economy.
By the end of June, according to the finance ministry’s figures, Uganda’s GDP is projected at 68.4 billion U.S. dollars. The GDP per capita is projected at 1,399 dollars.
Noting a strong performance of the Ugandan currency, Ggoobi added that annual headline inflation remains subdued, averaging at 3.3 percent this financial year, below the central bank target of 5 percent. ■
