As a result of a number of internal and external shocks, Uganda's economy is currently growing at the lowest rate recorded over the past two decades.
... Exibir mais + Therefore, current policy is focused on the management of these impacts so that they do not exacerbate macroeconomic instability and on measures to stimulate the economy to increase growth. The Government's investment push is intended to address binding constraints on growth, with the most significant of these constraints being Uganda's huge infrastructure deficit. The first part of this Ninth Uganda Economic Update presents an assessment of the current state of the economy, while the second part addresses a specific theme related to Uganda's development challenges and the manner in which these may be addressed. This focusses on how the management of Public-Private Partnerships (PPPs) can support Uganda's investment push by facilitating access to private sector financing, by managing the risks intrinsic in these arrangements, and by maximizing the economic and social value of these partnerships. This can only be achieved if the government is committed to building the appropriate set of frameworks to create a conducive environment for private investments and to adopting robust project identification, screening, procurement and contract management processes.
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As a result of a number of internal and external shocks, Uganda’s economy is currently growing at the lowest rate recorded over the past two decades.
... Exibir mais + During the first half of FY 2016-17, the economy grew at the annualized rate of 2.6 percent, considerably lower than the long-term average rate recorded over the past two decades, which stands at around seven percent. The decline over the past five years is related partly to the increasingly volatile external environment and partly to domestic policy responses to shocks and strains related to the ongoing impact of the drought on agriculture, the civil strife in South Sudan, and the upheavals in the banking system. Therefore, current policy is focused on the management of these impacts so that they do not exacerbate macroeconomic instability and on measures to stimulate the economy to increase growth. The Government remains strongly committed to an investment push to accelerate and sustain high levels of economic growth and to facilitate socio-economic transformation. The Government’s investment push is intended to address binding constraints on growth, with the most significant of these constraints being Uganda’s huge infrastructure deficit. The first part of the Ninth Uganda Economic Update presents an assessment of the current state of the economy, while the second part addresses a specific theme related to Uganda’s development challenges and the manner in which these may be addressed. This focusses on how the management of PPPs can support Uganda’s investment push by facilitating access to private sector financing, by managing the risks intrinsic in these arrangements, and by maximizing the economic and social value of these partnerships. This can only be achieved if the Government is committed to building the appropriate set of frameworks to create a conducive environment for private investments and to adopting robust project identification, screening, procurement and contract management processes.
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Documento de Trabalho AUS21 JUN 30, 2017
rg;; 000153476:Rachel K. Sebudde:rsebudde@worldbank.oDisclosed
As a result of a number of internal and external shocks, Uganda’s economy is currently growing at the lowest rate recorded over the past two decades.
... Exibir mais + Therefore, current policy is focused on the management of these impacts so that they do not exacerbate macroeconomic instability and on measures to stimulate the economy to increase growth. The Government’s investment push is intended to address binding constraints on growth, with the most significant of these constraints being Uganda’s huge infrastructure deficit. The first part of this Ninth Uganda Economic Update presents an assessment of the current state of the economy, while the second part addresses a specific theme related to Uganda’s development challenges and the manner in which these may be addressed. This focusses on how the management of Public-Private Partnerships (PPPs) can support Uganda’s investment push by facilitating access to private sector financing, by managing the risks intrinsic in these arrangements, and by maximizing the economic and social value of these partnerships. This can only be achieved if the government is committed to building the appropriate set of frameworks to create a conducive environment for private investments and to adopting robust project identification, screening, procurement and contract management processes.
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The negative GDP growth rate recorded in the first quarter of FY 2016/17 is indicative of the recent difficulties that Uganda has faced in achieving the rates of growth required to enable the country to fulfill its aspirations.
... Exibir mais + In the period from the 1990s to 2010, Uganda achieved average annual rates of economic growth of around seven percent, far higher than many peers. The sustained growth was the result of macroeconomic stability, post-conflict rebound, and market and institutional reforms which transformed Uganda from a failed state to one of the fastest growing economies in the world. However, the average annual growth in the five-year period to FY 2015/16 has decelerated to 4.5 percent. In sharp contrast to the earlier period, this is significantly lower than the average rate recorded by low income countries in the same period. The decline since 2011 is partly related to the increasingly volatile external environment and partly to domestic policy slippages. Policy frameworks held up well during the 2016 election cycle, but serious strains related to the impact of the drought on agriculture and of the civil strife in South Sudan are now materializing. It is important to ensure that the fiscal impact of these shocks does not transmit into macro policy slippages, with past experiences showing how damaging such slippagescan be to growth. In order to return to the levels of economic growth recorded in the immediate post-reform era, it is vitally necessary to address binding constraints and to transform the economy to facilitate the achievement of higher levels of productivity through diversification into a more resilient range of economic activities. As with previous editions of this update, the eighth Uganda Economic Update provides an analysis of the current state of the economy, while also focusing on a particular subject of significance. In this update, the focus is on the state ofthe financial system, with an analysis of the means by which this system can be leveraged to accelerate growth and development through higher levels of financial inclusion. A well-functioning financial sector enables financial institutions to provide affordable credit and other financial services to a greater proportion of the population. This encourages the emergence of new businesses and facilitates the growth of existing businesses. At the household level, it enables tosmooth the patterns of consumption, to invest in human capital development, and to accumulate physical and other assets. Together or individually, all of these outcomes play a significant role in the achievement of higher levels of economic growth and shared prosperity.
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Documento de Trabalho 112621 JAN 01, 2017
Sebudde,Rachel K.; Goffe,Valeriya; Daka,Dorothy; Safavian,Mehnaz S. InglêsDisclosed
The study represents a background study for the proposed Uganda Country Economic Memorandum (CEM), which seeks to address the issue of efficient use of oil resources and examine synergies between the oil industry and the rest of the economy, through growth poles or linkages.
... Exibir mais + The oil industry can help Uganda to promote robust growth in the economy. However, it is important to keep in mind that it will take a number of years until oil revenues start flowing into Ugandas economy. After the Final Investment Decision (FID) is reached, it will take time to develop the oil fields and start oil production. In the meantime, there are immediate opportunities opening up for Ugandas businesses to supply the oil industry with goods and services. In most cases, Ugandas suppliers, especially micro, small and medium enterpises (MSMEs), are not expected to become first tier contractors to the International Oil Company (IOCs). The main objective of this study is to provide recommendations to the Government of Uganda (GoU) on policies and strategies of leveraging the oil discoveries for the development of the national economy in order to transform the oil resources into sustained growth. The study reviews the typology of policies for local sourcing used in the world. It includes ample examples of other countries experiences with developing their local content policies and providing support to priority sectors to boost local content which could be useful for Uganda from the standpoint of lessons learned. The study conducts a detailed analysis of the binding constraints faced by domestic oil and gas suppliers in Uganda, takes stock of existing national content support initiatives and identifies areas which are in urgent need of further support. The study examines how the oil sector can be used as a driver of agriculture and fisheries sectors in the Albertine Region and other regions of Uganda from the standpoint of food supply to the oil camps.
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