Economy of Uganda

Common card · No. 366548

Uganda is a low-income country with excellent potential for growth. It is endowed with significant natural resources, including ample fertile land, regular rainfall, and mineral deposits. Chronic political instability and erratic economic management since the implementation of self-rule has produced a record of persistent economic decline that has left Uganda among of the world's poorest and least-developed countries. The national energy needs have historically exceeded the domestic energy generation, though large petroleum reserves have been found in the western region of the country. After the turmoil of the Amin period, the country began a program of economic recovery in 1981 that received considerable foreign assistance. From mid-1984 onward, overly expansionist fiscal and monetary policies and the renewed outbreak of civil strife led to a setback in economic performance. The economy has grown since the 1990s; real gross domestic product (GDP) grew at an average of 6.7% annually during...

Read on Wikipedia · Image USGov, Public domain