This is much better than the current global average economic growth of 2–3 percent. Talk of the economy being in crisis is, therefore, far removed from reality. The balance of payments and the exchange rate Uganda’s balance of payments has deteriorated since the onset of the global financial crisis.
Uganda has always run fairly large trade deficits but these have been funded with foreign savings from a variety of sources; workers’ remittances, foreign aid and net capital inflows.