Kenya
Uganda
Rwanda
The economic activity in emerging and developing economies evolved as
projected though there were notable disparities across regions. Growth in a number of emerging and developing economies slowed due to a worsened external environment, and a weakened internal demand as well as the effects of macroeconomic policy tightening.
World trade recorded a slowed growth of 6.7 percent in 2011 compared to 12.6 percent in 2010.
The 2012/13 financial year comes when the country is still facing significant economic challenges, which include; high fuel prices, inflation and the depreciation of the Uganda shilling against other currencies. This has threatened to reverse the country’s economic growth and long standing record of macroeconomic stability.
Real GDP growth is projected to reduce from 6.7% registered in the 2010/2011 financial year to 3.2%.
Global recovery is continuing broadly. The pace of activity remains geographically uneven with economic growth in advanced economies reaching 3% in 2010 while growth rates in emerging and developing economies reached more than 7%. Capital flows to emerging market economies resumed remarkably quickly after the crisis with net foreign direct investment increasing from $274 billion in 2009 to $294 billion in 2010.
Overall the global economy is estimated to have grown by 4.6% in 2010 up from a -1% decline in 2009.
The global economy underwent a recession in 2009 due to a deepening of the effects arising from the global financial crisis; affecting real and financial sectors. This was due to a decline in demand, investments and contraction of world trade. The global economy is estimated to have contracted by 0.8% in 2009 from 3.0% and 3.7% in 2008 and 2007, respectively. Below we take a look at the Global, African and Kenyan economic performance and outlook.
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