Deputy BOU Governor Atingi-Ego says delays in oil production will have adverse effects
The acting governor Bank of Uganda Michael Atingi-Ego said it is a great risk for the economy in case oil production fails to materialize by the expected 2025 period. Atingi-Ego says there would be a heavy burden on debt repayment given an increase in the deficit whose effect would be the drastic weakening of the shilling against the dollar. The government has anchored its hopes for better economic performance next financial year, with a projected 6% growth rate to be driven by foreign investment in the oil and gas sector.
