Local economists predict Brexit spillover

By Ritah Kemigisa

Local economists are anticipating a spillover effect of Brexit to not only the global economy and trade, but on Uganda as well.

This comes after the UK Prime Minister Theresa May the champion of Brexit announced that she would resign on 7th June.

Brexit is the withdrawal of the United Kingdom from the European Union and it followed a 2016 referendum in which 51.9 per cent of those voting supported leaving the EU.

Now Ramathan Goobi, a renowned economic analyst says the moment UK fails to manage the situation, there will be reduced foreign direct investments in Uganda because some partner states like China which bring in huge capital will be greatly affected.