Posted 1/12/2024, 2:35:42 PM
Uganda Forecasts Economic Growth Amid Oil Pipeline Plans and US Sanctions
- Uganda's economic growth projected to increase from 5.3% in 2023 to 6.0% in 2024 by the World Bank
- Growth partly driven by infrastructure investment ahead of new oil production in 2025
- Uganda remains committed to joint oil pipeline project with Tanzania despite backlash
- President stated US sanctions cannot derail Uganda's economy after removal from African Growth and Opportunity Act
- World Bank notes increasing investment expected to drive growth in Uganda, partly owing to improved business confidence