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Uganda’s economy is likely to grow by 6 per cent in the 2019/2020 (July-June) financial year, down from an earlier projection of 6.3 per cent, due to delays in the public investment needed to start oil production, the International Monetary Fund (IMF) said.
“Downside risks have increased linked to uncertainty related to oil production,” the Washington DC-based fund said in a statement published on Wednesday. Its initial forecast had been issued last year.
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