Uganda: 2017 Article IV Consultation and Eighth Review Under the Policy Support Instrument-Press Release; Staff Report; and Statement by the Executive Director for Uganda
IMF Staff Country Reports, July 12, 2017
Source details
- Canonical URL
- Uganda: 2017 Article IV Consultation and Eighth Review Under the Policy Support Instrument-Press Release; Staff Report; and Statement by the Executive Director for Uganda
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Bibliographic details
- Published: July 12, 2017
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781484309322.002
Macroeconomic performance and outlook
- Real GDP growth is estimated to have slowed to 3.9 percent in FY2016/17, reflecting domestic factors and external headwinds, including the drought in the Horn of Africa.
- The outlook is broadly favorable.
- With steadfast policy implementation and assuming improved weather conditions, growth could accelerate to 5 percent in FY2017/18.
Inflation and monetary conditions
- Food price inflation increased owing to the drought in the Horn of Africa.
- Core inflation was 5.1 percent in May 2017, in line with the Bank of Uganda’s target.
Financial sector
- The banking sector remains well-capitalized overall.
- Elevated nonperforming loans have constrained bank lending, which contributed to the growth slowdown.
Key subjects and policy focus areas (as highlighted)
- Arrears
- Banking
- Credit
- Expenditure
- External debt
- Fiscal policy
- Inflation
- Money
- Public debt
International Monetary Fund. Uganda: 2017 Article IV Consultation and Eighth Review Under the Policy Support Instrument-Press Release; Staff Report; and Statement by the Executive Director for Uganda
Content in this bundle
- Country Report