Identité BOA

Activity reports

2018 BOA-UGANDA Financial Statement

Preliminary estimates indicate that Uganda’s economy expanded by 5.8% continuing an upward trajectory from the 3.9% and 2.5% experienced in 2017 and 2016 respectively. The services sector enjoyed the fastest growth with 7.3% compared to 6.2% of industry and 3.2% in agriculture. The pickup in economic growth momentum was supported by favorable weather conditions and firm control on pests and diseases supported growth in food crops as shown by the bumper harvests in crops such as maize, beans and sorghum, along with a slow but steady recovery in private sector due to a booming consumer demand that fanned output.
Inflation rates remained low in 2018 much like previous year to record three-year lows due to favourable weather conditions supported by relative stability of the UGX to the USD. The Central Bank, as a result, to boost private sector credit and economic growth, maintained a largely expansionary monetary policy reflected in a low and flat Central Bank Rate.
Inflation is expected to remain subdued in the medium term.

Reports from previous years

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