Uganda: Africa's Top Bank Indicates Oil Investments to Spur Uganda Economy in 2018

Abidjan, Ivory Coast — The latest African Economic Outlook (AEO) report indicates that foreign direct investment (FDI) flows following the recent issuance of oil exploration licenses and the investment in infrastructure development is expected to spur Uganda's economy for most of 2018.

The African Development Bank 2018 edition of the yearly flagship report released on Wednesday indicates Uganda's economic performance generally remained strong despite the recent slowdown in real GDP growth, which is projected to reach 5.9% in 2018, up from 4.8% in 2017 and 2.3% in 2016.

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