Following decades of sustained economicgrowth during which Uganda made dramatic progresstowardspoverty reduction, the country has recently experienced aperiod of economic growthslow down. To return to higherrates of economic growth and poverty reduction, theGovernment mustaddress fundamental constraints. Facing arange of internal and external shocks, Uganda's economyhas grown at the average annual rate of 4.5 percent over thepast five years, far lower than the historical average ofabout 7.8 percent. The recent deceleration in growthaffected all sectors of the economy. With these lower growthrates, combined with other external shocks to thehouseholds, the remarkable progress that Uganda had madetowards reducing poverty since 1992 has been reversed. Inthe period from 1992 to 2013, the national poverty ratedeclined from 56 percent to 19.7 percent. Since then, it hasrebounded, increasing to a preliminary 27 percent. ForUganda to again achieve higher rates of economic growth andpoverty reduction, it must address two fundamental factors:its low levels of productivity and the vulnerability if itspeople to poverty.
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