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Uganda has revised down its economic growth forecast for the financial year beginning in July, projecting expansion of between 6.5% and 7%, a sharp reduction from the earlier estimate of 10.4%, the finance ministry said, without giving a reason for the change.
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The updated projection was shared by the ministry in a post on the X platform late on Thursday.
In a budget document released in December, the ministry had forecast economic growth of 10.4%, citing support from the expected start of oil production, according to Reuters.
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Image Credit: CNBC Africa
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