Uncertainty in the economy

A possible economic down turn is likely to occur in Uganda.

This is according to Bank of Uganda Governor Emmanuel Mutebile.

According to Mutebile, there are external risks as the global economic outlook remains subject a considerable degree of uncertainty.

Releasing the August monetary policy statement, Mutebile said the prospects for global economic activity in the 2014 are weaker than earlier anticipated.

This was reechoed by the Bank of Uganda Director Research Adam Mugume who says the external political turmoil will affect fuel imports

Meanwhile the bank has maintained the central bank rate at 11 percent