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Uganda Economic Update 19th Edition
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Book Synopsis Uganda Economic Update, 19th Edition by : World Bank
Download or read book Uganda Economic Update, 19th Edition written by World Bank and published by . This book was released on 2021 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: New shocks hit the Ugandan economy in 2022, just as it was recovering as the COVID-19 pandemic waned and related mobility restrictions were fully removed. Commodity price surges and disruptions to trade and supply chains because of the war in Ukraine worsened a global economy that was dragging under the weight of new waves of COVID-19 in some regions and unwinding of stimulus policies. The outlook for Uganda is now one of slower GDP growth with increased vulnerabilities, including in household incomes and food security. The authorities face the challenge to maintain a delicate balance between policies required to support and sustain a growth acceleration and ensuring stability otherwise the start-stop recovery as shocks evolve, will make it impossible for Uganda to build back better.
Book Synopsis Digital Solutions in a Time of Crisis by : Weltbank
Download or read book Digital Solutions in a Time of Crisis written by Weltbank and published by . This book was released on 2020 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: The COVID-19 (Coronavirus) pandemic in Uganda has emerged as the most significant adverse shock the global economy has experienced since the Second World War. It has taken a toll on human life and brought major disruption to countries across the globe. As a result, Uganda's economy is expected to slow significantly in 2020 and early 2021, and the outlook on all fronts has deteriorated significantly. There are, however, areas of the economy that have shown resilience and are already adjusting to the current crisis as an opportunity to invent new ways of operating and doing business. Digital technologies offer a chance to unlock new pathways for rapid economic growth, innovation, job creation, and access to services for underserved populations. Digital technologies have the potential to boost productivity and create better jobs in the private sector, including for informal businesses. This report comes at a crucial time with Uganda in the grips of the COVID-19 (Coronavirus) pandemic. Digital solutions have already been significant in responding to the crisis and will be important as Uganda recovers and aims to build-back-better.
Book Synopsis Uganda Economic Update, 18th Edition, December 2021 by : World Bank
Download or read book Uganda Economic Update, 18th Edition, December 2021 written by World Bank and published by . This book was released on 2021 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Uganda's economy was recovering well, up until the second wave of COVID-19 infections and subsequent lockdown in mid-2021. Since then, activity has rebounded - much like after the first lockdown - but the country is likely to still face a stop-start recovery until there is wider coverage of the COVID-19 vaccine. Notwithstanding this recovery, there has been a rise in poverty and - with the shift back to agriculture for some workers - an increase in household vulnerabilities. We have also seen a widening of inequalities, which have been most severe in the education sector, where schools have now been fully or partially closed for longer than any other country in the world. As a result, Uganda has a long way to go in its quest to build-back-better. Eighteenth Uganda Economic Update includes the special topic of Putting Women at the Center of Uganda's Economic Revival. In line with the structure of earlier editions of the Uganda Economic Update series, this report reviews recent economic developments - with particular attention paid to the effects of the ongoing COVID-19 pandemic - provides an outlook for the macro-economy, and then delves into the special topic.
Book Synopsis Uganda Economic Update, August 2013, Second Edition by :
Download or read book Uganda Economic Update, August 2013, Second Edition written by and published by . This book was released on 2013 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Uganda Economic Update, 17th Edition, June 2021 by : Weltbankgruppe
Download or read book Uganda Economic Update, 17th Edition, June 2021 written by Weltbankgruppe and published by . This book was released on 2021 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: The Ugandan economy is recovering from a sharp contraction due to the COVID-19 (coronavirus) shock that had slowed growth to its lowest pace in over three decades. Real GDP growth is estimated to reach above 3 percent during FY21, following the modest recovery of 0.7 percent in the first half of the FY. On a calendar year basis, real GDP had contracted by 1.1 percent in 2020, due to the almost total lockdown that lasted over four months, border closures except for essential cargo, and the spillover effects of the disruption in global demand on Ugandan exports, remittances and foreign direct investments. The services sector was particularly hard hit, contracting by over 3 percent in 2020, with activities in key sectors like education and accommodation and food services largely curtailed for most of the year. As restrictions were loosened, business and trading conditions improved both locally and globally allowing investments to pick up in the last quarter of 2020, with stronger signs of recovery in the manufacturing and construction sectors continuing into the quarter ending March 2021. Growth in agriculture has been sustained through the cash crops sector, which is relatively better than the food crop sector, in the use of improved farming practices to manage weather variability.
Book Synopsis Uganda's Economic Reforms by : Florence Kuteesa
Download or read book Uganda's Economic Reforms written by Florence Kuteesa and published by OUP Oxford. This book was released on 2009-12-03 with total page 448 pages. Available in PDF, EPUB and Kindle. Book excerpt: Following the eight year rule of Idi Amin, then several years of war and civil war, the Ugandan economy was in ruins by the time peace was restored in 1986. Since then Uganda has consistently been one of the fastest growing economies in Africa, leading to a substantial reduction in poverty. Its economic success has attracted considerable attention and has arguably had more influence on development thinking and on the international aid architecture than any other country. The HIPC debt relief initiative, the Paris Declaration on Aid Effectiveness, and the growth of budget support have all been strongly influenced by Ugandan experience and thinking. Ugandan innovations such as poverty reduction strategies, public expenditure tracking surveys, and virtual poverty funds have been widely adopted elsewhere. Most of the reforms which transformed the economy originated within the Uganda government during the 1990s, rather than being imposed through donor conditionality. In this book, for the first time many of the architects of those reforms give their personal accounts of the thinking behind the reforms, how they were implemented, and their impact. Since measures that work well in one environment may fail when transplanted to a different environment, the authors identify factors that were critical to the success of Uganda's reforms. While a number of individual reforms have been the subject of academic study, this book represents the first consolidated account of the economic reforms undertaken by the Uganda government and their impact on growth and poverty reduction.
Book Synopsis Uganda Economic Update, 14th Edition, February 2020 by : Weltbank
Download or read book Uganda Economic Update, 14th Edition, February 2020 written by Weltbank and published by . This book was released on 2020 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Following the release of new GDP estimates, nominal GDP for FY18/19 increased and the structure of the economy has changed. In October 2019, the Uganda Bureau of Statistics (UBOS) released new GDP estimates, updating the base year for estimating economic activity to 2016/17 from 2009/10. As a result, nominal GDP for FY18/19 was revised upwards from USh 109,945 billion to USh 128,499 billion. Furthermore, the share of industry in GDP has increased from about 20 percent to almost 30 percent. At the same time, there has been a drop in the share of services from about 58 percent to 46 percent. Manufacturing has doubled its share from about 8 percent to over 16 percent of GDP, whilst information and communications (IC) has fallen from 12 percent to just under 2 percent of GDP. Real GDP grew by 6.5 percent in FY18/19, maintaining the rebound in economic activity over the last two years. This has been driven by strong levels of domestic consumption and sustained levels of public and private investment. Net FDI inflows shot up to 5.1 percent of GDP in FY18/19 from 3 percent of GDP the previous year. The construction sector continues to grow at double-digit levels. There has been a jump in manufacturing growth supported by recent expansions in the sector, including investments in new factories. Agriculture was boosted by another decent harvest and a strong rebound in fisheries. Levels of GDP growth of about 6 percent and above are expected over the medium-term, driven by consumption spending, intensified private and public investments in infrastructure for industrialization, electricity transmission, and preparation for oil extraction. Still, this growth is not high enough for Uganda's lower middle-income status and poverty reduction ambitions.
Book Synopsis Uganda Economic Update, August 2013, Second Edition by : Weltbank
Download or read book Uganda Economic Update, August 2013, Second Edition written by Weltbank and published by . This book was released on 2014 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Despite the difficult past five year period, renewed macro-stability is creating a strong basis for Uganda to rebuild a more resilient economy. The economy is currently recovering and is estimated to have grown at a rate of approximately 5.0 percent in FY2013. This improved stability is creating an enabling environment for the implementation of long term fiscal and structural policies that may facilitate Uganda's achievement of accelerated growth and ultimately of its goal of achieving middle income status. An accelerated rate of economic growth can be achieved through a more rapid diversification of the economic base. Uganda has to manage this rapid structural transformation appropriately so that sufficient jobs will be created to provide employment for the young and rapidly growing working population and to promote the growth of the most productive sectors to sustain productivity gains and economic growth over time. This paper is organized in two parts as follows: part one gives Uganda's economy; and part two presents creating more productive employment opportunities for more of Uganda's citizens.
Book Synopsis Uganda Economic Update, 16th Edition, December 2020 : Investing in Ugandaђ́ةs Youth by :
Download or read book Uganda Economic Update, 16th Edition, December 2020 : Investing in Ugandaђ́ةs Youth written by and published by . This book was released on 2020 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Uganda Economic Update, April 2016 by :
Download or read book Uganda Economic Update, April 2016 written by and published by . This book was released on 2016 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Uganda Economic Update, April 2016 by : Weltbank
Download or read book Uganda Economic Update, April 2016 written by Weltbank and published by . This book was released on 2016 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This Seventh Edition of the Uganda Economic Update discusses the importance of accompanying fiscal strategy with sound public investment management systems. Indeed, a key risk to Uganda's fiscal strategy relates to the potential for public investments to fail to yield the expected growth and welfare dividend. Over the past decade, for every dollar invested in Uganda's capital infrastructure, only seven-tenth of a dollar has been generated. This is far below countries that have successfully undergone structural transformation. As an example, every dollar invested in the development of the interstate highway network in the United States of America between 1954 and 2001, generated six dollars' worth of economic activity. In other words, Uganda's public investments are falling short of generating the desired economic return. The good news is that by improving public investment management, Uganda can greatly increase her economic growth rate and social impact of her investment strategy.
Book Synopsis Uganda Economic Update, 16th Edition, December 2020 by : Weltbank
Download or read book Uganda Economic Update, 16th Edition, December 2020 written by Weltbank and published by . This book was released on 2020 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Uganda's real GDP grew at 2.9 percent in FY20, less than half the 6.8 percent recorded in FY19, due to the effects of the COVID-19 (coronavirus) crisis, and is expected to grow at a similar level in FY21, but downside risks are high. Economic activity stalled during the latter part of the fiscal year due to a domestic lockdown that lasted over four months, border closures for everything but essential cargo, and the spillover effects of disruption in global demand and global supply chains due to the COVID-19 pandemic. This resulted in a sharp contraction in public investment and deceleration in private consumption, which hit the industrial and service sectors hard, particularly the informal service sector. On a calendar year basis, real GDP growth is expected to contract by up to 1 percent in 2020, compared to 7.5 percent growth in 2019, and, as a result, real per capita GDP growth is expected to contract by about 4.5 percent. Even if GDP growth rebounds strongly by 2022, the level of per capita GDP is likely to remain well below its pre-COVID trajectory. As a result of these impacts, the COVID-19 crisis is threatening to reverse some of the gains made on structural transformation and the declining poverty trend of the past decade. This transformation was characterized by a reduction in the workforce employed in on-farm agriculture and a take-off in industrial production, largely in agro-processing. However, following the COVID shock, there have already been widespread firm closures, permanent layoffs in industry and services, a rapid slowdown of activity particularly in the urban informal sector, and a movement of labor back to farming. At the same time, household incomes have fallen, which is concerning given the high levels of vulnerability to poverty, limited social safety nets, and impacts this might have on human capital development and Uganda's capacity to benefit from its demographic transition.
Book Synopsis Uganda Economic Update, 10th Edition, December 2017 by : Weltbank
Download or read book Uganda Economic Update, 10th Edition, December 2017 written by Weltbank and published by . This book was released on 2017 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Following decades of sustained economic growth during which Uganda made dramatic progresstowards poverty reduction, the country has recently experienced a period of economic growthslow down. To return to higher rates of economic growth and poverty reduction, the Government mustaddress fundamental constraints. Facing a range of internal and external shocks, Uganda's economy has grown at the average annual rate of 4.5 percent over the past five years, far lower than the historical average of about 7.8 percent. The recent deceleration in growth affected all sectors of the economy. With these lower growth rates, combined with other external shocks to the households, the remarkable progress that Uganda had made towards reducing poverty since 1992 has been reversed. In the period from 1992 to 2013, the national poverty rate declined from 56 percent to 19.7 percent. Since then, it has rebounded, increasing to a preliminary 27 percent. For Uganda to again achieve higher rates of economic growth and poverty reduction, it must address two fundamental factors: its low levels of productivity and the vulnerability if its people to poverty.
Book Synopsis Advancing the Ugandan Economy by : Ezra Sabiti Suruma
Download or read book Advancing the Ugandan Economy written by Ezra Sabiti Suruma and published by Brookings Institution Press. This book was released on 2014-04-30 with total page 234 pages. Available in PDF, EPUB and Kindle. Book excerpt: Internal conflicts, dictatorship, and economic disintegration characterized the first twenty-five years of Uganda’s independence from British colonial rule, which culminated in the reign of Idi Amin and a violent civil war. The country has since achieved an astounding turnaround of stability and growth. Advancing the Ugandan Economy is a first-hand look at the remarkable policy changes that took place from 1986 to 2012 and their effect in contrast with the turbulent events after independence. Ezra Suruma held several key positions in the Ugandan government during the nation’s transition period, including minister of finance. His insightful recounting of those times demonstrates that African countries can achieve economic stability and sustain rapid growth when they meet at least two interdependent conditions: establishing a stable and secure political framework and unleashing entrepreneurialism. Suruma also highlights the strategic areas that still require fundamental reform if Uganda is to become a modern state and shares his vision for the future of his country. Rarely in African history has so much positive political and economic transformation of a country been achieved in such a short time. Suruma’s account of the commitment, determination, vision, and dexterity of the Ugandan government holds invaluable lessons in managing the still complex policy challenges facing the African continent.
Book Synopsis Uganda Economic Update, 10th Edition, December 2017 by : World Bank Group
Download or read book Uganda Economic Update, 10th Edition, December 2017 written by World Bank Group and published by . This book was released on 2017 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Following decades of sustained economic growth during which Uganda made dramatic progresstowards poverty reduction, the country has recently experienced a period of economic growthslow down. To return to higher rates of economic growth and poverty reduction, the Government mustaddress fundamental constraints. Facing a range of internal and external shocks, Uganda's economy has grown at the average annual rate of 4.5 percent over the past five years, far lower than the historical average of about 7.8 percent. The recent deceleration in growth affected all sectors of the economy. With these lower growth rates, combined with other external shocks to the households, the remarkable progress that Uganda had made towards reducing poverty since 1992 has been reversed. In the period from 1992 to 2013, the national poverty rate declined from 56 percent to 19.7 percent. Since then, it has rebounded, increasing to a preliminary 27 percent. For Uganda to again achieve higher rates of economic growth and poverty reduction, it must address two fundamental factors: its low levels of productivity and the vulnerability if its people to poverty.
Book Synopsis Uganda Economic Update, 12th Edition, November 2018 by : World Bank Group
Download or read book Uganda Economic Update, 12th Edition, November 2018 written by World Bank Group and published by . This book was released on 2018 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Real GDP growth rebounded strongly to 6.1 percent in FY17/18, from 3.9 percent the previous year. The rebound was largely driven by a pick-up in investments and exports, and on the back of strengthened credit to the private sector and good weather. Consequently, services, particularly information and communications, sustained strong growth, and food crop production recovered. Inper capita terms, however, this rebound translates into a 3.1 percent growth rate, because of the rapidly growing population. Moreover, the heavy reliance on rain-fed and subsistence agriculture drives the volatility in economic growth at the margin, with spillover effects on exportearnings, and a considerable impact on the poor's income. Despite the rebound in economic growth in FY17/18, fiscal revenues stagnated, while the expenditure mix deteriorated further, with excessive current spending and under-execution in capital spending. Current spending exceeded last year's outcome by a striking 1.4 percent of GDP and was above the budgeted amount by 32 percent. At the same time, the larger current spending was not used to finance investments in human capital. Therefore, one of the government's priorities should be to rein in current spending and thereby keep public debt under control. Meanwhile, capital spending was 0.6 percent of GDP lower compared to the year before and fell short of the budgeted amount by 60 percent. Compared to peers, capital spending in Uganda stood at 4.4 percent of GDP in FY17/18, which is less than half the size ofRwanda's capital outlays at 10.3 percent of GDP, and only 60 percent of Kenya's at 7 percent of GDP. Combined with deficiencies in the 'quality at entry' of projects, cost escalations, and poor quality of some completed projects, this under-spending is constraining Uganda's ambitions for rapid growth and socio-economic transformation. Therefore, concerted efforts are required to improve public investment management.
Book Synopsis Uganda Economic Update, 12th Edition, November 2018 by : Weltbankgruppe
Download or read book Uganda Economic Update, 12th Edition, November 2018 written by Weltbankgruppe and published by . This book was released on 2018 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Real GDP growth rebounded strongly to 6.1 percent in FY17/18, from 3.9 percent the previous year. The rebound was largely driven by a pick-up in investments and exports, and on the back of strengthened credit to the private sector and good weather. Consequently, services, particularly information and communications, sustained strong growth, and food crop production recovered. Inper capita terms, however, this rebound translates into a 3.1 percent growth rate, because of the rapidly growing population. Moreover, the heavy reliance on rain-fed and subsistence agriculture drives the volatility in economic growth at the margin, with spillover effects on exportearnings, and a considerable impact on the poor's income. Despite the rebound in economic growth in FY17/18, fiscal revenues stagnated, while the expenditure mix deteriorated further, with excessive current spending and under-execution in capital spending. Current spending exceeded last year's outcome by a striking 1.4 percent of GDP and was above the budgeted amount by 32 percent. At the same time, the larger current spending was not used to finance investments in human capital.Therefore, one of the government's priorities should be to rein in current spending and thereby keep public debt under control. Meanwhile, capital spending was 0.6 percent of GDP lower compared to the year before and fell short of the budgeted amount by 60 percent. Compared to peers, capital spending in Uganda stood at 4.4 percent of GDP in FY17/18, which is less than half the size ofRwanda's capital outlays at 10.3 percent of GDP, and only 60 percent of Kenya's at 7 percent of GDP. Combined with deficiencies in the 'quality at entry' of projects, cost escalations, and poor quality of some completed projects, this under-spending is constraining Uganda's ambitions for rapid growth and socio-economic transformation. Therefore, concerted efforts are required to improve public investment management.
