Fiscal Balance in Uganda

Uganda Fiscal Balance | Economic News & Forecasts

Uganda - Fiscal Balance

According to preliminary data, annual GDP growth accelerated to 4.6% in the 12 months to June 2022, up from 3.5% in the previous fiscal year. However, the expansion remained below its pre-pandemic level. The acceleration in FY 2022 was driven by improved momentum in the services sector—particularly wholesale and retail trade, real estate activities and education—and likely aided by the reduced impact of Covid-19 and the reopening of schools. Industrial output also picked up amid a surge in mining output, while agricultural output growth was steady, as a recovery in fishing offset slower cash crops growth. In politics, in mid-June the government announced a fairly cautious FY 2023 budget, despite public demands for more support to offset the rising cost of living. The budget projects a roughly 7% rise in nominal spending—far below the expected increase in revenue—and a smaller fiscal deficit.

Uganda - Fiscal Balance Data

2015   2016   2017   2018   2019  
Fiscal Balance (% of GDP)-3.9  -4.1  -3.2  -3.8  -6.7  

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Uganda Fiscal Balance Chart


Uganda Fiscal Balance
Note: General government balance as % of GDP
Source: Bank of Uganda

Uganda Facts

Value Change Date
Bond Yield15.751.02 %Dec 31
Exchange Rate3,6700.17 %Dec 31
Stock Market0.30.0 %Jan 07

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