The minister of finance and economic planning Matia Kasaijja has been pushed to deny claims the economy is facing depression.
Minister Kasaijja last week admitted the economic 'situation is not easy' after the takeover of Crane Bank management by Central Bank.
The minister last week reportedly said: "The situation is easy but to me it is good because it wakes us up."
In an interview with NBS Tv, Kasaijja said: "The economy is not doing badly overall but some sectors. It is not inclusive of everybody and sector."
He went on to elaborate: "Some sectors are doing very well, others are not doing well."
Kasaijja projected: "As a whole we are growing . We are projecting to grow by 5% by the end of this financial year."