Statement on the Economic Impact of COVID-19 on Uganda

The coronavirus outbreak is already having a negative effect on the global economy. The last few weeks have seen a large fall in the value of stocks and other financial instruments traded at the world leading stock markets in the USA, Europe and Asia. Preliminary estimates by the Organization for Economic Cooperation and Development (OECD) indicate that global growth in 2020 will reduce to 2.4 percent from an earlier projection of 2.9 percent.