Macroeconomic Forecast Uganda

We are forecasting real GDP growth 7.1% in FY2009/10, which we expect to be driven by strong domestic demand. The thrust of this demand will come at once from private consumption, expected to grow at 7.8% y-o-y, and fixed capital formation, which we think will expand by 9.0%. This latter projection is echoed by the Ugandan Investment Authority, which said it expects investment to hit US$3.0bn in 2010 as result of growing foreign interest in its oil

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