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Uganda lowers annual growth forecast to 6.5%-7%, to start crude output in west


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Uganda lowers annual growth forecast to 6.5%-7%, to start crude output in west

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Uganda lowers annual growth forecast to 6.5%-7%, to start crude output in west

Uganda lowers annual growth forecast to 6.5%-7%, to start crude output in west

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30th January 2026

By: Reuters

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Uganda's economy is projected to expand between 6.5% and 7% in the financial year starting July, sharply down from a previous estimate of 10.4%, the finance ministry said, without citing an explanation for the revision.

The ministry provided the latest growth forecast in a post on the X platform late on Thursday.

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In a budget paper in December, the ministry had projected Uganda's economy to grow 10.4%, supported by the start of oil production.

The country plans to begin pumping crude from reserves in its western fields, operated by France's TotalEnergies and China's CNOOC.

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