Coupled with the pass-through effects of ongoing price hikes in oil and food-  BIS Review 118/2008  1  commodities, the harsher external environment today may inevitably place downward pressure on our growth prospects in the immediate period.
There may be also an impact from reduced private transfers to Uganda especially as industrialized economies take a hit in terms of reduced GDP growth and market liquidity. There is also the possibility of reduced aid flows from developed countries to low income countries.