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XINHUA NEWS SERVICE REPORTS FROM THE AFRICAN CONTINENT

 
World Bank forecasts six per cent growth
for vigourous Ugandan economy in 2020

KAMPALA Uganda (Xinhua) -- The World Bank forecast a more than six percent growth of Uganda’s economy by 2020 on account of anticipated public and private investments especially to support developments in the energy and oil sectors.

In its latest edition of the Uganda Economic Update, the bank said that the country’s economic growth continues to take an upward trajectory and in the first half of the financial year 2018/19 the economy grew at 6.4 percent from 6.1 percent registered in the financial year 2017/18.

The Update attributed growth to stronger investment and higher demand for goods and services, favorable weather conditions and strengthened credit.
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World Bank forecast six per cent growth for Ugandan economy | Coastweek

  The report, however, showed that heavy reliance on rain-fed agriculture makes Gross Domestic Product and exports more volatile.

As Uganda’s 2021 elections draw closer, it said, heightened political activity and uncertainty could lead to a drop in investment and economic activity.
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World Bank urges
Uganda to increase
investment in education

KAMPALA Uganda (Xinhua) -- The World Bank has urged Uganda to increase investment in education if the country is to develop human capital and sustain strong economic growth.

In its latest edition of the Uganda Economic Update released here on Thursday, the Bank said that the east African country needs about 2 billion U.S. dollars of additional public funds till 2025 to ensure that all children complete primary schools and acquire basic literacy, numeracy and skills.

KAMPALA Uganda (Xinhua) -- Children of St. Athanasius Primary School read books as part of Celebrations to mark International Children’s day in Kisenyi in Kampala, Uganda. XINHUA PHOTO - NICHOLAS KAJOBA

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This financial need might be halved if solid education system improvement measures are implemented in line with best international experience, it said.

"Such measures include providing better pre-primary learning opportunities for poor children, eliminating repetition and dropouts, reducing the number of subjects taught at secondary schools, optimizing teacher workload," the report said.

Compared with other countries in the east African country, Uganda spends only 2.6 percent of Gross Domestic Product on education, lower than 3.2 percent to 5.2 percent spent by Kenya, Tanzania, Rwanda, Burundi, the bank said.

It recommended that Uganda increase public spending on education from current 10 percent of the national budget to the regional average of 16 percent by 2025.

           

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