The Ugandan economy grew by an estimated 5 percent in real terms in the year to the end of June, 2 percent less than the target figure but up on the 4.7 percent of the previous year, the Economist Intelligence Unit (EIU) reported on Monday, citing figures released by Finance Minister Gerald Ssendaula. A deterioration in Uganda’s terms of trade (the relative value of its exports and imports) was caused by the progressive weakening of world coffee prices and the rising cost of oil, according to Ssendaula. The improvement over the previous 12 months was the result of a good recovery in food crop production, as well as good performances in the non-coffee export sector, the electricity sector, telecommunications and construction, the EIU stated.
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