Uganda’s economy is the only one that will not be hard-hit by shocks from coronavirus as compared to other East African economies.
According to the International Monetary Fund, Uganda is projected to post an economic growth of 3.5% after Covid-19 which is however a drop of 1.4% from 4.9% in 2019.
However, other EAC countries will register sharp contractions due to covid-19% with Kenya registering a drop from 5.6% to 1%, Rwanda 10.1 % to 3.5 %, Tanzania 6.3% to 2%.
South Sudan’s growth will drop from 11.3% to 4.9% while Burundi from 1.1% to -5.5%.
The world economy is expected to enter a recession due to disruptions from the COVID-19 pandemic with growth in Sub Saharan Africa in 2020 projected at -1.6 percent, the lowest level on record.
The IMF is now tasking countries ramp up health capacity and spending to save lives and contain the virus outbreak and also ensure good fiscal, monetary, and financial policies that can protect vulnerable groups, mitigate economic losses, and support the recovery.