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Reduced export earnings slow down Uganda growth

Published on March 17, 2016

Modest export earnings posted in 2014/15 financial year have deepened Uganda’s policy woes as currency traders report limited impact on exchange rates amid growing effects of China’s economic slowdown on African economies.

Latest data compiled by Bank of Uganda shows slow growth in overall export revenues recorded between March and June last year and the period between July and December 2014 with economists citing lower demand for Ugandan goods to the Common Market for Eastern and Southern Africa. Other exporters attributed poor returns to rising competition within regional markets. SOURCE: The East African. Read more...