Uganda: Second Review Under the Policy Support Instrument and Request for Waiver of Assessment Criteria: Staff Report; Staff Supplement; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Uganda.
IMF Staff Country Reports, October 19, 2011
Source details
- Canonical URL
- Uganda: Second Review Under the Policy Support Instrument and Request for Waiver of Assessment Criteria: Staff Report; Staff Supplement; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Uganda.
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Bibliographic details
- Published: October 19, 2011
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781463922658.002
Summary findings
- Economic growth has recovered.
- Higher food and fuel prices have sparked a sharp rise in inflation.
- The programmed adjustment of fiscal and monetary policies will help put Uganda on a more sustainable medium-term trajectory.
- Eliminating tax exemptions and incentives will address the revenue gap.
- The planned oil revenue management framework is encouraging.
Inflation and monetary policy
- Higher food and fuel prices have sparked a sharp rise in inflation.
- Monetary policy has been tightened to contain core inflation and effects of the food and fuel price shocks.
Fiscal policy, public investment, and revenue measures
- The government has allowed for scaling up of infrastructure investment spending.
- Eliminating tax exemptions and incentives is recommended to address the revenue gap.
- The programmed adjustment of fiscal and monetary policies is expected to support a more sustainable medium-term trajectory.
Oil sector and revenue management
- The planned oil revenue management framework is described as encouraging.