This will inevitably reduce economic growth in Africa. The IMF’s latest Regional Economic Outlook projects real GDP growth in the oil importing sub-Saharan African countries, excluding South Africa, falling from an average of 6.1 percent in 2008 to 3.3 percent in the current calendar year, before recovering partially next year to 5.1 percent.
The prospects for Uganda I would like now to focus on the prospects for the Ugandan economy. In terms of real growth of output, Uganda has performed better than the average for sub Saharan Africa in the 2000s.