The World Bank figure suggests slightly faster growth than the 5.5 percent previously forecast by the IMF for 2016/17. "The stimulus effects from this large public investment program will offset those of a weak external sector," it said. Updated Mon, June 6th 2016 at 12:28 GMT +3Uganda's economy will grow by 5.9 percent in the 2016/2017 (July-June) fiscal year, up almost a percentage point from the levels estimated for the previous 12 months thanks to spending on large infrastructure projects, the World Bank said. "The predominant driver of growth will be an increase in ... the construction sector, with this growth driven by Uganda’s significant investments in public infrastructure," the bank said. Economic growth for the 2015/2016 fiscal year is currently estimated at 5 percent.

Source: Standard Digital June 06, 2016 09:11 UTC