Uganda's economy is doing really well. It grew by 6.1 percent in 2023/24. The World Bank, a big organization that helps countries with money, wrote a report about this. They said that businesses, factories, and farms all did a great job. Uganda also sold more things to other countries. The people in charge of money, called the government, made good choices, too.
Even though things are going well, Uganda still has some problems to solve. The country is spending more money than it makes, and it does not have as much money from other countries as it used to. These things could make it harder for Uganda to keep growing.
Uganda is going to start producing a lot of oil in 2025/26, which could make the country much richer. However, there have been some delays in building the big pipes needed to move the oil. If these pipes are not finished on time, it could cause trouble.
The World Bank says Uganda needs to make some changes. The country must find ways to make more money inside its borders and help young children learn and grow. These changes will ensure that Uganda can continue to do well for a long time.
Prices in Uganda have not gone up too much. They only went up by 3.2 percent in 2023/24. That is much lower than the year before, when they went up by 8.8 percent. The weather has been good for growing food. The government has also done a good job of keeping prices steady.
Food prices went up just a tiny bit. Only 3.3 percent. The year before, they went up a whopping 22.7 percent. Prices for other things people need, like clothes and school supplies, only went up by 3 percent. This shows that Uganda is doing a good job of keeping prices under control.
Uganda's prices are very stable compared to other countries in East Africa. However, some things could cause them to go up. Problems in other parts of the world can make it harder or more expensive to buy and sell things.
Uganda is buying more from other countries than it is selling. The difference is about 7.9 percent of all the money the country makes. That is a bit better than last year. Uganda is selling more gold, coffee, and metals to other countries. The prices for these things have gone up. At the same time, the prices for things Uganda buys from other places have gone down a bit. This helps Uganda's economy.
Coffee has been a big success story. Uganda sold 46 percent more coffee than last year. People in other countries like the United Arab Emirates and India are buying more Ugandan coffee. They really like how it tastes.
But Uganda still buys a lot of things from other places. It needs these things to build roads, schools, and hospitals and for the oil business. Buying so much from other countries can make it harder for Uganda to make money.
Uganda does not have as much money from other countries as it used to. It has about $3.4 billion. That is only enough to buy things from other countries for three months. Uganda needs more money saved up. That way, if something bad happens, like prices going up too much, the country will still be okay.
The government has been spending more money than it planned, and it needs to be more careful with its spending. It has some ideas for how to make more money, like making sure rich people pay their fair share of taxes. The government also wants to collect taxes from businesses that sell things on the internet.
If the government does not find ways to make more money, it might not have enough to pay for important things like schools and hospitals. Everyone needs these things to live a good life.
When Uganda starts producing oil, it could make a lot of money. By 2030, the country could make $3.3 billion a year just from oil. That is a lot of money. It could help the country grow even faster and do more good things for its people.
But Uganda has some problems to watch out for. Prices could start going up again if the cost of important things like food and gas changes too much. Bad weather could also make it hard to grow food.
Uganda also needs to be careful about borrowing too much money. If it borrows too much, it might have a hard time paying it back, which could cause big problems for the country.
To keep growing and improving, Uganda needs to invest in its people. That means building good schools and hospitals and making sure everyone has a chance to learn and work. Uganda has to be careful with its money, but it also has to spend money on things that will improve everyone's lives.
If Uganda can do these things, it has a bright future ahead. The country is working hard to improve the lives of all its people. With a little bit of luck and a lot of hard work, Uganda can keep growing and become an even better place to live.
Even though things are going well, Uganda still has some problems to solve. The country is spending more money than it makes, and it does not have as much money from other countries as it used to. These things could make it harder for Uganda to keep growing.
Uganda is going to start producing a lot of oil in 2025/26, which could make the country much richer. However, there have been some delays in building the big pipes needed to move the oil. If these pipes are not finished on time, it could cause trouble.
The World Bank says Uganda needs to make some changes. The country must find ways to make more money inside its borders and help young children learn and grow. These changes will ensure that Uganda can continue to do well for a long time.
Prices in Uganda have not gone up too much. They only went up by 3.2 percent in 2023/24. That is much lower than the year before, when they went up by 8.8 percent. The weather has been good for growing food. The government has also done a good job of keeping prices steady.
Food prices went up just a tiny bit. Only 3.3 percent. The year before, they went up a whopping 22.7 percent. Prices for other things people need, like clothes and school supplies, only went up by 3 percent. This shows that Uganda is doing a good job of keeping prices under control.
Uganda's prices are very stable compared to other countries in East Africa. However, some things could cause them to go up. Problems in other parts of the world can make it harder or more expensive to buy and sell things.
Uganda is buying more from other countries than it is selling. The difference is about 7.9 percent of all the money the country makes. That is a bit better than last year. Uganda is selling more gold, coffee, and metals to other countries. The prices for these things have gone up. At the same time, the prices for things Uganda buys from other places have gone down a bit. This helps Uganda's economy.
Coffee has been a big success story. Uganda sold 46 percent more coffee than last year. People in other countries like the United Arab Emirates and India are buying more Ugandan coffee. They really like how it tastes.
But Uganda still buys a lot of things from other places. It needs these things to build roads, schools, and hospitals and for the oil business. Buying so much from other countries can make it harder for Uganda to make money.
Uganda does not have as much money from other countries as it used to. It has about $3.4 billion. That is only enough to buy things from other countries for three months. Uganda needs more money saved up. That way, if something bad happens, like prices going up too much, the country will still be okay.
The government has been spending more money than it planned, and it needs to be more careful with its spending. It has some ideas for how to make more money, like making sure rich people pay their fair share of taxes. The government also wants to collect taxes from businesses that sell things on the internet.
If the government does not find ways to make more money, it might not have enough to pay for important things like schools and hospitals. Everyone needs these things to live a good life.
When Uganda starts producing oil, it could make a lot of money. By 2030, the country could make $3.3 billion a year just from oil. That is a lot of money. It could help the country grow even faster and do more good things for its people.
But Uganda has some problems to watch out for. Prices could start going up again if the cost of important things like food and gas changes too much. Bad weather could also make it hard to grow food.
Uganda also needs to be careful about borrowing too much money. If it borrows too much, it might have a hard time paying it back, which could cause big problems for the country.
To keep growing and improving, Uganda needs to invest in its people. That means building good schools and hospitals and making sure everyone has a chance to learn and work. Uganda has to be careful with its money, but it also has to spend money on things that will improve everyone's lives.
If Uganda can do these things, it has a bright future ahead. The country is working hard to improve the lives of all its people. With a little bit of luck and a lot of hard work, Uganda can keep growing and become an even better place to live.
