Macroeconomic performance and outlook the ugandan economy reported strong growth in 2019, estimated at 6. The contribution of water resources development and. Economic assessment 2 economic aspects of the nbsap were carried out by iucn eastern africa regional office for the national environment management authority, uganda. In fy 201617, revenue collections dropped by 4%, as public debt increased from 33. The structure of ugandas economy an economy is the material resources and administration of a country. Ugandas economic outlook in 2018 economic policy research. The ugandan economy has maintained a structure of demand, with. Opportunities to harness the demographic dividend for sustainable development. Over the past decade, for every dollar invested in ugandas capital infrastructure, only. The impact of population growth on economic growth and. Implications of the structure of ugandas economy 3. Uganda the ugandan economy has maintained a structure of demand, with the recent growth performance underpinned by high consumption especially private consumption. Uganda was once rich in human and natural resources and possessed a favorable climate for economic development, but in the late 1980s it was still struggling to end a period of political and economic chaos that had destroyed the countrys reputation as the pearl of africa. However, while ugandas gdp has expanded quite impressively the structure of the economy has not changed much.
Learn more about the rwanda economy, including the population of rwanda, gdp, facts, trade, business, inflation and other data and analysis on its economy from the index of economic freedom. Background, organization, polices and challenges article pdf available in a journal with only 1 volume 11. Use operates under uganda s capital market authority cma and the bank of uganda bou. It is a system or vehicle through which the resources of a country are utilized to achieve the development goals of the country. The evolution of industry in uganda brookings institution. Uganda economic outlook 2016 the story behind the numbers. This report examines the main features of ugandas industrial policy and its implementation.
Incoming figures for the final quarter of 2019 are mixed, following a marked slowdown in the third quarter. In this he was opposed by a number of his more senior officials and. I envisage that the economy is poised to grow at a faster rate than observed last year. Uganda economic outlook african development bank building. Economic steps in the biodiversity strategy and action plan biodiversity economics base data. The structure of ugandas economy this unit talks about the structure of ugandas economy. The consumer price index cpi data for march 2017 indicates that in.
He lecturers economics at makerere university business school mubs and has coauthored several studies on uganda s economy. As was the case in 1986, nearly 80% of ugandas exports today are still agricultural commodities, with coffee alone contributing nearly 20% and over a third of foreign exchange earnings. Ugandas economic growth has slowed since 2016, with the growth rate dropping from 5. A previous study by nannyonjo 2002 on the impact of the structure of ugandas banking sector and its impact on profitability indicated no significant impact. Ugandas economy can be fairly described as having the following features. Indeed, a key risk to ugandas fiscal strategy relates to the potential for public investments to fail to yield the expected growth and welfare dividend. The 17thedition of the state of uganda population report 2017 was prepared by a dedicated team of authors and national population council recognizes. He lecturers economics at makerere university business school mubs and has coauthored several studies on ugandas economy. Over the past decade, for every dollar invested in ugandas capital infrastructure, only sevententh of a dollar has been generated. Werikhe noted that ugandas economy is heavily dependent on imports and import demand still big, despite the progress made to narrow. Ugandas economic growth has slowed since 2016 as government spending and public debt has grown. The central bank has kept its key lending rate at 11.
Sadlers own successor, sir hesketh bell, announced that he wished to develop uganda as an african state. As was the case in 1986, nearly 80% of ugandas exports today are still agricultural commodities, with coffee alone contributing nearly 20%. Ugandas economy is experiencing positive and negative conditions emanating from both domestic and external pressure, which the bank of uganda says needs a balanced. Although the government envisioned annual economic growth rates of about 5.
The economy of uganda has great potential and appeared poised for rapid economic growth. Instability in south sudan has led to a sharp increase in sudanese refugees and is disrupting ugandas main export market. In october 2019, ugandas economic structure was significantly changed following a rebasing of the national accounts, resulting into a significant change in the structure of the economy. It analyses existing policy, the important elements, progress to date. For the first five years following independence in 1962, ugandas economy resumed rapid growth, with gdp, including subsistence agriculture, expanding. The country is adequately endowed with natural resources as well, such as fertile soils, sufficient rain and adequate mineral deposits of copper, gold and cobalt. Uganda agreement both legitimised the social changes that had already taken place in buganda and triggered new tensions and conflicts within buganda and between the baganda and other ethnic groups. Uganda economy gdp, inflation, cpi and interest rate. President in the sunrise newspaper, ugandas leading weekly.
The private sector pmi improved in q4 compared to q3, underpinned by increasing customer numbers. As a result of these changes, the complexity and dynamism of ugandas economy has considerably increased. Ugandas industrial policy of 2008 remains largely unimplemented and the economys structure essentially unchanged. Ugandas economy has recently grown at a slower pace, reducing its impact on incomes and poverty reduction. Ugandas economic structure is the result of its heavy reliance on agriculture, coffee being the most important export commodity. The structure of an economy refers to main feature outstanding characteristics of a given economy. The contribution of water resources development and environmental management to ugandas economy final report 12 october 201 6. A 1961 study describes ugandas economy as a poor agrarian economy, dominated by the african farm enterprise. It shows what it is made up and the different economic activities that are carried out in uganda. This paper is intended to guide my presentation which focuses on the nature, the structure, the policy framework and the performance of ugandas economy. There seem to be good grounds for believing that a layered political economy analysis is what is needed in any problemfocused political economy assignment. In the countryside, the year is filled with a variety of festivals and ritual celebrations, including marriage introductions, weddings, births, christenings, and other familial gatherings. Economic development and industrial policy in uganda.
This is an impediment to a more vibrant and competitive traded goods sector. High interest rates have squeezed credit limits on private sector investment and made borrowing unaffordable. President in the sunrise newspaper, uganda s leading weekly. Market structure and performance in ugandas banking industry. Opportunities to harness the demographic dividend for sustainable development 33. The impact of population growth on economic growth and poverty reduction in uganda stephan klasen, university of gottingen david lawson, university of manchester may 20071 abstract the paper examines the link between population and per capita economic growth, and poverty, using the interesting case study of uganda. In 2001, consumption levels attained the highest share in gdp for about six years, reflecting the feel goodfactor as uganda enjoyed relative peace compared to recent years. By structure of an economy, we mean the composition of the salient or basic features of an economy.
It is a nonprofit making body that was established as a result of the government policy of transforming the economy of uganda from a public sectorbased to a private sectordriven basis. Uganda was once rich in human and natural resources and possessed a favorable climate for economic development, but in the late 1980s it was still struggling to end a period of political and economic chaos that had destroyed the country s reputation as the pearl of africa. Developing the agrifood system critical for inclusive economic growth. Early in the 20th century sir james hayes sadler, who succeeded johnston as commissioner, concluded that the country was unlikely to prove attractive to european settlers.
Equally, giving donor political economy exercises a more definite problem focus seems a good way of exploiting the full potential of this type of work to improve development practice. Political economy analysis iii preface this political economy analysis is part of a series of country studies carried out by ecorys for unicef in 2016 and 2017, in various subsaharan african economies. Bank of uganda interest rates the outlined monetary and fiscal policies stance as well as the imperfectly competitive structure of the financial system continues to influence pricing in the money market. Therefore, if we are to achieve sustainable growth and development and structural transformation in uganda, we must strengthen our. Economic development and industrial policy in uganda summary industrialisation is critical in the transformation into a modern industrial economy. The views expressed here reflect those of the authors and not that of official dfid policy.
Retail, construction, and telecommunications were key economic drivers. Political economy analysis iii preface this political economy analysis is part of a series of country studies carried out by ecorys for unicef in 2016 and 2017, in. The enactment of the local government statute, 1993 was a way of. As in other places, the agricultural year is marked by a number of important events that require social gatherings. Gdp declined each year from 1972 to 1976 and registered only slight improvement in 1977 when world coffee prices increased. Uganda gdp annual growth rate 20092019 data 20202022. This study on economic development and industrial policy examines ugandas efforts to industrialise and develop in the past and present and looks at the various accompanying policies. The informal economy, which is predominantly female, is broadly defined as a group of vulnerable individuals without protections in regards to their work. The plan for the evolution of the structure of the economy over the proceeding 15 years is. In the next section, i provide a brief checklist of the opportunities that are available and may be harnessed to fully transform the economy. The future of ugandas economy the independent uganda. Ugandas budget is dominated by energy and road infrastructure spending, while uganda relies on donor support for longterm drivers of growth, including agriculture, health, and education. By musa mayanja lwanga after overcoming the political uncertainties that characterized much of 2017, ugandas economic outlook for 2018 is positive.
Industrialisation is critical in the transformation into a modern industrial economy. The structure of ugandas economy is dominated by household enterprises rather than by medium and large scale firms. Broadly, a large proletariat and sizeable professional middle class are likely to support. The structure of the agricultural sector in uganda a effects of such a structure on the economy b ways of how such a structure can be changed c causes of poor performance of the agricultural sector d solutions to the problems of the agricultural sector in. Ugandas economy continues its robust recovery with projected growth of 6.
Jun 15, 2017 ramathan ggoobi is policy analyst, and researcher. Women face a plethora of barriers specific to gender when attempting to access the formal economy of uganda, and research showing prejudice against lending to women in the informal sector. In the next section, i provide a brief checklist of the opportunities that are available. For the past ten years, he has published a weekly column are you listening mr. Whereas commercial banks lending rates were fairly stable, they remained high due to. Gulu, november 20, 2018 the ugandan economy rebounded strongly to 6. These socalled structural adjustment programs greatly improved the shape of the.
1398 1614 1411 765 632 1142 1517 880 1657 1370 565 1347 1070 1593 1561 696 146 163 581 270 1613 886 1360 970 121 93 459 511 1448 1438 1485 1316 1480 1297 1394 861 937 412 726