April 24, 2024

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Coronavirus may affect Uganda’s economy says BoU

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Coronavirus may affect Uganda’s economy says BoU

Uganda’s economy faces tough times as the new deadly coronavirus continue to strike in China.

The Central Bank of Uganda says it’s not certain about the next projection of Uganda’s growth following the outbreak of the coronavirus in China.

The deadly viral virus originated from Chinese province of Huber’s capital Wuhan.

The epidemic has affected business as Uganda imports much from China.

The Governor Bank of Uganda Professor Emmanuel Tumusime Mutebile notes that the economic growth prospects with real GDP for the 2019/2020 financial year was projected to grow at an average of 6.3% in the medium term but the prevailing situation may not allow.

According to the current situation the project figure are to fall.

Trade affairs between Uganda and China becomes tricky due to the outbreak of the coronavirus, thus the government must find the alternative.

This could help the economy of the country to stabilise despite of the coronavirus epidemic.

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