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Ugandan Economic Growth Recovers to 2.4% in First Quarter

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June 29 (Bloomberg) -- Uganda’s economic growth rate recovered to 2.4 percent in the first quarter of fiscal 2012-13 after contracting 2.6 percent in the preceding three months, the Uganda Bureau of Statistics said.

The industrial sector expanded 9.2 percent and agriculture grew 0.5 percent, while the service sector contracted 0.2 percent, Samuel Echoku, a principal statistician at the bureau, told reporters today in Kampala, the capital.

Uganda’s 2011-12 growth rate of 3.2 percent was the slowest in 25 years because of the effects of the European debt crisis, high oil prices and drought, President Yoweri Museveni said on June 14.

To contact the reporter on this story: Fred Ojambo in Kampala at fojambo@bloomberg.net

To contact the editor responsible for this story: Paul Richardson at pmrichardson@bloomberg.net

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