1. Over the past two decades, Uganda has experienced one of the
most impressive economic turnarounds in Africa. The amelioration of
conflict kick-started rapid economic growth, which has now been
sustained for some 20 years. And the growth momentum has remained
strong, with the real economic growth averaging close to 9 percent
over the last 5 years. This growth record has likely been made
possible by the reduction of macroeconomic imbalances and spread of
reasonably well-functioning markets to virtually all parts of the
economy. Importantly, growth has contributed to a sharp decline in
poverty from 55 percent of the population in 1992/93 to 31 percent
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