Uganda’s economy expanded by 2.1 Pct in Q2 Of 2015/2016 Financial Year — Nigeria Today
Pages Navigation Menu

Latest and breaking news, sports and all that is trending today

Uganda’s economy expanded by 2.1 Pct in Q2 Of 2015/2016 Financial Year

Uganda Currency

Uganda’s economy grew by 2.1 percent in the second quarter of 2015/2016 (Jul-Jun) fiscal year from a revised 1.8 percent in the previous quarter, helped by faster expansion in the agricultural sector, official data showed on Tuesday.

The East African country’s central bank this month cut interest rates, saying it wanted to stimulate slowing growth and return it to full potential.

A statement from the Uganda Bureau of Statistics (UBOS)and seen by Reuters on Tuesday said value added activities in the agricultural sector had grown by 3.5 percent in the October-December quarter, up from 1.8 percent in the previous quarter.

“The main contributors to this growth were food crops and fishing activities,” UBOS said.

Data released in January showed economic growth in the first quarter of the 2015/2016 at 0.3 percent.

Do you have something awesome to share with the world? Click here to share

Do you ever have any question about anything you wish to ask and get answer? Click here to ask

Follow us on twitter @NigeriaTodayNG

Also, Like us on facebook

This post was syndicated from The Guardian Nigeria. Click here to read the full text on the original website.


Be the First to Comment!

Notify of
Download the Nigeria Today app from Play store. Click here download now
Hello. Add your message here.