|Home . Media Centre . Museum . Publications . Speeches . Careers in BOU . Contact Us|
- Quick Links
LETTER TO THE EDITOROn Wednesday, April 11, the Daily Monitor published a story under the headline “Kasekende versus Kisamba: Who is lying on the economy”.
Neither Dr. Louis Kasekende, Deputy Governor of the Bank of Uganda nor Dr. Wilberforce Kisamba-Mugerwa, the Chairman of the National Planning Authority (NPA), both of whom are highly respected public figures, were telling lies and it is very dishonest of the Daily Monitor to impugn their integrity in this manner.
The basis of the article was differences in the Gross Domestic Product (GDP) growth rates cited by the Governor, Bank of Uganda, the Deputy Governor and NPA Chairman. These differences are easy to explain, because they pertain to different time periods.
The Governor, in his Monetary Policy Statement of April 2018, referred to a growth rate of 6.3 percent in the calendar year 2017. The Deputy Governor referred to a GDP growth rate of 6.9 percent in the second half of the calendar year of 2017. Both of these figures are taken directly from the quarterly GDP data published by the Uganda Bureau of Statistics (UBOS) which are available on its website. Please note that the Bank of Uganda does not publish its own GDP estimates, it uses UBOS data.
The Chairman of the NPA referred to a projected GDP growth rate of 5.5 percent for the 2017/18 fiscal year, which has not yet ended. As such there is nothing inconsistent in the different GDP figures given by these three gentlemen and certainly nothing that warrants the allegation that they are lying.
Charity Mugumya (Mrs.)
15 Feb, 2018
The Role of the Bank of Uganda in ensuring Macroeconomic Stability
09 Feb, 2018
Bank of Uganda Financial Stability Report 2017
07 Dec, 2017
Expiry of the Forex Bureau Licence for Amin Forex Bureau Exchange Limited.
15 Nov, 2017
Invitation to the Bank of Uganda 3rd Annual Supplier Conference
14 Nov, 2017
Bank of Uganda, Central Bank of Sudan to strengthen ties
15 Aug, 2017
How can Uganda benefit from China's economic rise?
04 Jul, 2017
List of Micro Finance Deposit Taking Institutions
03 Jan, 2017
Clarification on Bank of Uganda’s Ownership of Plots 15-17 Birch Avenue, Masaka Municipality
21 Dec, 2016
Bank of Uganda State of the Economy December 2016
26 Oct, 2016
Illegal Banking Business and Deposit-taking by Top Microfinance Limited
12 Oct, 2016
Crane Bank Uganda Limited
22 Sep, 2016
Crane Bank (U) Limited
19 Sep, 2016
Permanent closure of City Bureau De Change Ltd
14 Sep, 2016
Sensitization Workshop for Members of Parliament
- Central Bank Rate (CBR)
|December 2018||February 2019|
|December 2018||January 2019|
|Food Crops & Related Items||-5.0||-5.2|
- Exchange Rates
- February 18, 2019
- Financial News Report
|January 23, 2019||January 30, 2019|
|T/Bills (91 days)||11.00||10.75|
|T/Bills (182 days)||12.36||12.04|
|T/Bills (364 days)||13.25||12.50|
|T/Bonds (2 years)||14.75||14.75|
|T/Bonds (3 years)||16.63||16.63|
|T/Bonds (5 years)||16.75||16.75|
|T/Bonds (10 years)||17.00||17.00|
|T/Bonds (15 years)||17.00||17.00|
- Commercial Bank Rates
|October 2018||November 2018|
|Time Deposit Rate||9.72||10.36|