Uganda Economic Update, June 2014 : Reducing Old Age and Economic Vulnerabilities
This is the fourth edition of the Uganda Economic Update series. As with previous editions, this update first provides information related to the current state of the economy before focusing on a particular subject of importance. The special focus...
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| Format: | Economic Updates and Modeling |
| Language: | English en_US |
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Washington, DC
2014
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| Online Access: | http://documents.worldbank.org/curated/en/2014/06/19705558/reducing-old-age-economic-vulnerabilities-uganda-improve-pension-system http://hdl.handle.net/10986/18731 |
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okr-10986-18731 |
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oai_dc |
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Digital Repository |
| institution_category |
Foreign Institution |
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Digital Repositories |
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World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English en_US |
| topic |
ACCOUNTING ADVERSE EFFECTS ALTERNATIVE INVESTMENTS ARREARS AUDITS BALANCE OF PAYMENTS BANK RATE BORROWER BORROWING REQUIREMENTS BUSINESS ENVIRONMENT CAPITAL ACCOUNT CAPITAL EXPENDITURES CAPITAL GAINS CAPITAL MARKETS CENTRAL BANK CENTRAL BANKS CIVIL SERVICE COMMERCIAL BANK COMMERCIAL BANK CREDIT COMMERCIAL BANKS COMMERCIAL BORROWING COMMERCIAL LENDING COMMODITIES COMMODITY COMMODITY PRICES CONSUMER PRICE INDEX CORPORATE TAXES CREDIT GROWTH CREDIT RATINGS CURRENT ACCOUNT BALANCE CURRENT ACCOUNT DEFICIT CURRENT ACCOUNT DEFICITS DEBT DEBT LEVEL DEBT LEVELS DEBT MANAGEMENT DEBT SOURCE DEBT STOCK DEMOGRAPHIC DEMOGRAPHIC CHANGES DEPOSIT DEPOSIT RATES DEPOSITS DEVELOPING COUNTRIES DISBURSEMENTS DIVIDEND DIVIDENDS DOMESTIC BORROWING DOMESTIC CAPITAL DOMESTIC CAPITAL MARKET DOMESTIC DEBT DOMESTIC ECONOMY DOMESTIC INTEREST RATES DOMESTIC MARKET DOMESTIC SECURITY ECONOMIC CRISIS ECONOMIC DEVELOPMENT ECONOMIC DEVELOPMENTS ECONOMIC PERFORMANCE ECONOMIC REFORMS EMPLOYMENT EQUIPMENT EXCHANGE RATE EXPENDITURE EXPENDITURES EXPORT MARKET EXPOSURE EXTERNAL BORROWING EXTERNAL FINANCING FINANCIAL CRISIS FINANCIAL DEEPENING FINANCIAL FLOWS FINANCIAL MARKETS FINANCIAL SAVINGS FISCAL BURDEN FISCAL DEFICIT FISCAL DEFICITS FISCAL POLICY FIXED INVESTMENT FOOD PRICE FOOD PRICES FOREIGN ASSETS FOREIGN CURRENCY FOREIGN DIRECT INVESTMENT FOREIGN EXCHANGE FOREIGN EXCHANGE RESERVES FOREIGN EXCHANGE TRANSACTIONS FOREIGN INTEREST FOREIGN MARKETS FRAUD GLOBAL MARKETS GOVERNMENT BORROWING GOVERNMENT DEBT GOVERNMENT SAVINGS GOVERNMENT SPENDING GROWTH RATE GROWTH RATES INCOME INCOMES INFLATION INFLATION RATE INFLATION RATES INFLATION TARGETING INFLATIONARY PRESSURES INFRASTRUCTURE INVESTMENTS INFRASTRUCTURE PROJECTS INSURANCE INSURANCE COMPANIES INTEREST PAYMENTS INTEREST RATES INTERNAL CONTROLS INTERNATIONAL BANK INTERNATIONAL BEST PRACTICES INTERNATIONAL DEVELOPMENT INTERNATIONAL RESERVES INVESTING INVESTMENT ALLOCATIONS INVESTMENT CAPABILITIES INVESTMENT GUIDELINES INVESTMENT MANAGEMENT INVESTMENT PROJECTS INVESTMENT SPENDING ISSUANCE ISSUANCE OF GOVERNMENT SECURITIES LEVEL OF COMMITMENT LIBERALIZATION LIQUIDITY LOCAL CURRENCY LOCAL ECONOMY LOCAL SECURITY LONG-TERM FINANCE MACRO-STABILITY MACROECONOMIC ENVIRONMENT MACROECONOMIC LEVELS MARKET INTEREST MARKET INTEREST RATES MARKET PRICES MDAS MISMANAGEMENT MONETARY FUND MONETARY POLICIES MONETARY POLICY MONEY MARKET NATURAL DISASTERS NATURAL RESOURCES NOW ACCOUNTS OIL RESERVES OIL RESOURCES OPEN MARKET OPEN MARKET OPERATIONS OUTPUT OUTSTANDING CREDIT PAYMENT SYSTEM PENSION PENSION ASSETS PENSION FUNDS PENSION LIABILITIES PENSION REFORM PENSION REFORMS PENSION SYSTEM PENSION SYSTEMS PENSIONS POLICY RESPONSE POLITICAL ECONOMY PORTFOLIO PORTFOLIO INVESTMENT PORTFOLIO INVESTMENTS PRICE VOLATILITY PRIVATE INVESTMENT PRIVATE INVESTMENTS PRIVATE PENSION PRIVATE PENSIONS PRIVATE SECTOR CREDIT PRODUCTIVE INVESTMENTS PRODUCTIVITY PUBLIC DEBT PUBLIC DEBT STOCK PUBLIC INVESTMENT PUBLIC INVESTMENTS PUBLIC PENSION PUBLIC PENSIONS PUBLIC POLICIES PUBLIC SECTOR BORROWING PUBLIC SPENDING RATE OF GROWTH RATING AGENCIES RECURRENT EXPENDITURE REGULATOR REGULATORY AUTHORITY REGULATORY FRAMEWORK REMITTANCES REPLACEMENT RATE RETIREMENT RETURN REVENUE MOBILIZATION SAFETY NET SCANDAL SCANDALS SOCIAL DEVELOPMENT SOCIAL PROTECTION SOCIAL SAFETY NET SOVEREIGN DEBT STABLE LOCAL CURRENCY SUBSIDIARY SUPPLY SHOCKS TAX TAX CODES TAX COMPLIANCE TAX EXEMPTIONS TECHNICAL ASSISTANCE TELECOMMUNICATIONS TIMELY PAYMENT TRADE BALANCE TRADING TRANSPARENCY TRANSPORT TREASURY VALUE ADDED TAXES WATER SUPPLY WITHDRAWAL WORLD ECONOMIES |
| spellingShingle |
ACCOUNTING ADVERSE EFFECTS ALTERNATIVE INVESTMENTS ARREARS AUDITS BALANCE OF PAYMENTS BANK RATE BORROWER BORROWING REQUIREMENTS BUSINESS ENVIRONMENT CAPITAL ACCOUNT CAPITAL EXPENDITURES CAPITAL GAINS CAPITAL MARKETS CENTRAL BANK CENTRAL BANKS CIVIL SERVICE COMMERCIAL BANK COMMERCIAL BANK CREDIT COMMERCIAL BANKS COMMERCIAL BORROWING COMMERCIAL LENDING COMMODITIES COMMODITY COMMODITY PRICES CONSUMER PRICE INDEX CORPORATE TAXES CREDIT GROWTH CREDIT RATINGS CURRENT ACCOUNT BALANCE CURRENT ACCOUNT DEFICIT CURRENT ACCOUNT DEFICITS DEBT DEBT LEVEL DEBT LEVELS DEBT MANAGEMENT DEBT SOURCE DEBT STOCK DEMOGRAPHIC DEMOGRAPHIC CHANGES DEPOSIT DEPOSIT RATES DEPOSITS DEVELOPING COUNTRIES DISBURSEMENTS DIVIDEND DIVIDENDS DOMESTIC BORROWING DOMESTIC CAPITAL DOMESTIC CAPITAL MARKET DOMESTIC DEBT DOMESTIC ECONOMY DOMESTIC INTEREST RATES DOMESTIC MARKET DOMESTIC SECURITY ECONOMIC CRISIS ECONOMIC DEVELOPMENT ECONOMIC DEVELOPMENTS ECONOMIC PERFORMANCE ECONOMIC REFORMS EMPLOYMENT EQUIPMENT EXCHANGE RATE EXPENDITURE EXPENDITURES EXPORT MARKET EXPOSURE EXTERNAL BORROWING EXTERNAL FINANCING FINANCIAL CRISIS FINANCIAL DEEPENING FINANCIAL FLOWS FINANCIAL MARKETS FINANCIAL SAVINGS FISCAL BURDEN FISCAL DEFICIT FISCAL DEFICITS FISCAL POLICY FIXED INVESTMENT FOOD PRICE FOOD PRICES FOREIGN ASSETS FOREIGN CURRENCY FOREIGN DIRECT INVESTMENT FOREIGN EXCHANGE FOREIGN EXCHANGE RESERVES FOREIGN EXCHANGE TRANSACTIONS FOREIGN INTEREST FOREIGN MARKETS FRAUD GLOBAL MARKETS GOVERNMENT BORROWING GOVERNMENT DEBT GOVERNMENT SAVINGS GOVERNMENT SPENDING GROWTH RATE GROWTH RATES INCOME INCOMES INFLATION INFLATION RATE INFLATION RATES INFLATION TARGETING INFLATIONARY PRESSURES INFRASTRUCTURE INVESTMENTS INFRASTRUCTURE PROJECTS INSURANCE INSURANCE COMPANIES INTEREST PAYMENTS INTEREST RATES INTERNAL CONTROLS INTERNATIONAL BANK INTERNATIONAL BEST PRACTICES INTERNATIONAL DEVELOPMENT INTERNATIONAL RESERVES INVESTING INVESTMENT ALLOCATIONS INVESTMENT CAPABILITIES INVESTMENT GUIDELINES INVESTMENT MANAGEMENT INVESTMENT PROJECTS INVESTMENT SPENDING ISSUANCE ISSUANCE OF GOVERNMENT SECURITIES LEVEL OF COMMITMENT LIBERALIZATION LIQUIDITY LOCAL CURRENCY LOCAL ECONOMY LOCAL SECURITY LONG-TERM FINANCE MACRO-STABILITY MACROECONOMIC ENVIRONMENT MACROECONOMIC LEVELS MARKET INTEREST MARKET INTEREST RATES MARKET PRICES MDAS MISMANAGEMENT MONETARY FUND MONETARY POLICIES MONETARY POLICY MONEY MARKET NATURAL DISASTERS NATURAL RESOURCES NOW ACCOUNTS OIL RESERVES OIL RESOURCES OPEN MARKET OPEN MARKET OPERATIONS OUTPUT OUTSTANDING CREDIT PAYMENT SYSTEM PENSION PENSION ASSETS PENSION FUNDS PENSION LIABILITIES PENSION REFORM PENSION REFORMS PENSION SYSTEM PENSION SYSTEMS PENSIONS POLICY RESPONSE POLITICAL ECONOMY PORTFOLIO PORTFOLIO INVESTMENT PORTFOLIO INVESTMENTS PRICE VOLATILITY PRIVATE INVESTMENT PRIVATE INVESTMENTS PRIVATE PENSION PRIVATE PENSIONS PRIVATE SECTOR CREDIT PRODUCTIVE INVESTMENTS PRODUCTIVITY PUBLIC DEBT PUBLIC DEBT STOCK PUBLIC INVESTMENT PUBLIC INVESTMENTS PUBLIC PENSION PUBLIC PENSIONS PUBLIC POLICIES PUBLIC SECTOR BORROWING PUBLIC SPENDING RATE OF GROWTH RATING AGENCIES RECURRENT EXPENDITURE REGULATOR REGULATORY AUTHORITY REGULATORY FRAMEWORK REMITTANCES REPLACEMENT RATE RETIREMENT RETURN REVENUE MOBILIZATION SAFETY NET SCANDAL SCANDALS SOCIAL DEVELOPMENT SOCIAL PROTECTION SOCIAL SAFETY NET SOVEREIGN DEBT STABLE LOCAL CURRENCY SUBSIDIARY SUPPLY SHOCKS TAX TAX CODES TAX COMPLIANCE TAX EXEMPTIONS TECHNICAL ASSISTANCE TELECOMMUNICATIONS TIMELY PAYMENT TRADE BALANCE TRADING TRANSPARENCY TRANSPORT TREASURY VALUE ADDED TAXES WATER SUPPLY WITHDRAWAL WORLD ECONOMIES World Bank Uganda Economic Update, June 2014 : Reducing Old Age and Economic Vulnerabilities |
| geographic_facet |
Africa Uganda |
| relation |
Uganda economic update;no. 4 |
| description |
This is the fourth edition of the Uganda
Economic Update series. As with previous editions, this
update first provides information related to the current
state of the economy before focusing on a particular subject
of importance. The special focus of this issue concerns how
pensions can reduce vulnerabilities at both individual and
macroeconomic levels. The Ugandan economy has continued the
process of recovery, growing by 5.9 percent during the first
half of FY2013 and FY2014 amidst droughts, disruptions
related to civil unrest in South Sudan, and aid cuts. Eight
consecutive quarters of positive growth since the slump in
FY2011 and FY2012 confirm that the economy has returned on
the strong growth path and may reach a rate of growth of 6.0
percent per annum in FY2013 and FY2014. The positive outlook
is subject to risks, key among which will be those emanating
from its fiscal management regime due to continuous low
revenue collection and reduction of aid to Uganda; increased
spending pressures in the advent of the 2016 elections, and
accelerating public investments amidst gaps in public
investment efficiency. In addition, given its recently
increased dependency on the South Sudan market for its
exports, the protracted crisis in South Sudan could have
severe consequences to the Ugandan economy. In that context,
a coherent policy of social protection, including for the
elderly, can promote social transformation and accelerate
economic development. An effective social protection system
is needed to protect vulnerable groups from negative shocks
such as loss of employment, death of bread winner, or bad
weather. Achieving the vision of a transformed Uganda means
addressing vulnerabilities at both individual and at country
levels. Uganda is already taking steps to start building an
effective pension system, but challenges remain in ensuring
transparent and proper governance of the pension funds;
achieving efficiency objectives, building up the
institutional capacity, and managing the fiscal pressures
due to expenses to existing pensions and the new public
pension scheme at the same time. Well designed and managed
pension systems can contribute significantly to the
country's ongoing transformation. |
| format |
Economic & Sector Work :: Economic Updates and Modeling |
| author |
World Bank |
| author_facet |
World Bank |
| author_sort |
World Bank |
| title |
Uganda Economic Update, June 2014 : Reducing Old Age and Economic Vulnerabilities |
| title_short |
Uganda Economic Update, June 2014 : Reducing Old Age and Economic Vulnerabilities |
| title_full |
Uganda Economic Update, June 2014 : Reducing Old Age and Economic Vulnerabilities |
| title_fullStr |
Uganda Economic Update, June 2014 : Reducing Old Age and Economic Vulnerabilities |
| title_full_unstemmed |
Uganda Economic Update, June 2014 : Reducing Old Age and Economic Vulnerabilities |
| title_sort |
uganda economic update, june 2014 : reducing old age and economic vulnerabilities |
| publisher |
Washington, DC |
| publishDate |
2014 |
| url |
http://documents.worldbank.org/curated/en/2014/06/19705558/reducing-old-age-economic-vulnerabilities-uganda-improve-pension-system http://hdl.handle.net/10986/18731 |
| _version_ |
1764442560339640320 |
| spelling |
okr-10986-187312021-04-23T14:03:49Z Uganda Economic Update, June 2014 : Reducing Old Age and Economic Vulnerabilities World Bank ACCOUNTING ADVERSE EFFECTS ALTERNATIVE INVESTMENTS ARREARS AUDITS BALANCE OF PAYMENTS BANK RATE BORROWER BORROWING REQUIREMENTS BUSINESS ENVIRONMENT CAPITAL ACCOUNT CAPITAL EXPENDITURES CAPITAL GAINS CAPITAL MARKETS CENTRAL BANK CENTRAL BANKS CIVIL SERVICE COMMERCIAL BANK COMMERCIAL BANK CREDIT COMMERCIAL BANKS COMMERCIAL BORROWING COMMERCIAL LENDING COMMODITIES COMMODITY COMMODITY PRICES CONSUMER PRICE INDEX CORPORATE TAXES CREDIT GROWTH CREDIT RATINGS CURRENT ACCOUNT BALANCE CURRENT ACCOUNT DEFICIT CURRENT ACCOUNT DEFICITS DEBT DEBT LEVEL DEBT LEVELS DEBT MANAGEMENT DEBT SOURCE DEBT STOCK DEMOGRAPHIC DEMOGRAPHIC CHANGES DEPOSIT DEPOSIT RATES DEPOSITS DEVELOPING COUNTRIES DISBURSEMENTS DIVIDEND DIVIDENDS DOMESTIC BORROWING DOMESTIC CAPITAL DOMESTIC CAPITAL MARKET DOMESTIC DEBT DOMESTIC ECONOMY DOMESTIC INTEREST RATES DOMESTIC MARKET DOMESTIC SECURITY ECONOMIC CRISIS ECONOMIC DEVELOPMENT ECONOMIC DEVELOPMENTS ECONOMIC PERFORMANCE ECONOMIC REFORMS EMPLOYMENT EQUIPMENT EXCHANGE RATE EXPENDITURE EXPENDITURES EXPORT MARKET EXPOSURE EXTERNAL BORROWING EXTERNAL FINANCING FINANCIAL CRISIS FINANCIAL DEEPENING FINANCIAL FLOWS FINANCIAL MARKETS FINANCIAL SAVINGS FISCAL BURDEN FISCAL DEFICIT FISCAL DEFICITS FISCAL POLICY FIXED INVESTMENT FOOD PRICE FOOD PRICES FOREIGN ASSETS FOREIGN CURRENCY FOREIGN DIRECT INVESTMENT FOREIGN EXCHANGE FOREIGN EXCHANGE RESERVES FOREIGN EXCHANGE TRANSACTIONS FOREIGN INTEREST FOREIGN MARKETS FRAUD GLOBAL MARKETS GOVERNMENT BORROWING GOVERNMENT DEBT GOVERNMENT SAVINGS GOVERNMENT SPENDING GROWTH RATE GROWTH RATES INCOME INCOMES INFLATION INFLATION RATE INFLATION RATES INFLATION TARGETING INFLATIONARY PRESSURES INFRASTRUCTURE INVESTMENTS INFRASTRUCTURE PROJECTS INSURANCE INSURANCE COMPANIES INTEREST PAYMENTS INTEREST RATES INTERNAL CONTROLS INTERNATIONAL BANK INTERNATIONAL BEST PRACTICES INTERNATIONAL DEVELOPMENT INTERNATIONAL RESERVES INVESTING INVESTMENT ALLOCATIONS INVESTMENT CAPABILITIES INVESTMENT GUIDELINES INVESTMENT MANAGEMENT INVESTMENT PROJECTS INVESTMENT SPENDING ISSUANCE ISSUANCE OF GOVERNMENT SECURITIES LEVEL OF COMMITMENT LIBERALIZATION LIQUIDITY LOCAL CURRENCY LOCAL ECONOMY LOCAL SECURITY LONG-TERM FINANCE MACRO-STABILITY MACROECONOMIC ENVIRONMENT MACROECONOMIC LEVELS MARKET INTEREST MARKET INTEREST RATES MARKET PRICES MDAS MISMANAGEMENT MONETARY FUND MONETARY POLICIES MONETARY POLICY MONEY MARKET NATURAL DISASTERS NATURAL RESOURCES NOW ACCOUNTS OIL RESERVES OIL RESOURCES OPEN MARKET OPEN MARKET OPERATIONS OUTPUT OUTSTANDING CREDIT PAYMENT SYSTEM PENSION PENSION ASSETS PENSION FUNDS PENSION LIABILITIES PENSION REFORM PENSION REFORMS PENSION SYSTEM PENSION SYSTEMS PENSIONS POLICY RESPONSE POLITICAL ECONOMY PORTFOLIO PORTFOLIO INVESTMENT PORTFOLIO INVESTMENTS PRICE VOLATILITY PRIVATE INVESTMENT PRIVATE INVESTMENTS PRIVATE PENSION PRIVATE PENSIONS PRIVATE SECTOR CREDIT PRODUCTIVE INVESTMENTS PRODUCTIVITY PUBLIC DEBT PUBLIC DEBT STOCK PUBLIC INVESTMENT PUBLIC INVESTMENTS PUBLIC PENSION PUBLIC PENSIONS PUBLIC POLICIES PUBLIC SECTOR BORROWING PUBLIC SPENDING RATE OF GROWTH RATING AGENCIES RECURRENT EXPENDITURE REGULATOR REGULATORY AUTHORITY REGULATORY FRAMEWORK REMITTANCES REPLACEMENT RATE RETIREMENT RETURN REVENUE MOBILIZATION SAFETY NET SCANDAL SCANDALS SOCIAL DEVELOPMENT SOCIAL PROTECTION SOCIAL SAFETY NET SOVEREIGN DEBT STABLE LOCAL CURRENCY SUBSIDIARY SUPPLY SHOCKS TAX TAX CODES TAX COMPLIANCE TAX EXEMPTIONS TECHNICAL ASSISTANCE TELECOMMUNICATIONS TIMELY PAYMENT TRADE BALANCE TRADING TRANSPARENCY TRANSPORT TREASURY VALUE ADDED TAXES WATER SUPPLY WITHDRAWAL WORLD ECONOMIES This is the fourth edition of the Uganda Economic Update series. As with previous editions, this update first provides information related to the current state of the economy before focusing on a particular subject of importance. The special focus of this issue concerns how pensions can reduce vulnerabilities at both individual and macroeconomic levels. The Ugandan economy has continued the process of recovery, growing by 5.9 percent during the first half of FY2013 and FY2014 amidst droughts, disruptions related to civil unrest in South Sudan, and aid cuts. Eight consecutive quarters of positive growth since the slump in FY2011 and FY2012 confirm that the economy has returned on the strong growth path and may reach a rate of growth of 6.0 percent per annum in FY2013 and FY2014. The positive outlook is subject to risks, key among which will be those emanating from its fiscal management regime due to continuous low revenue collection and reduction of aid to Uganda; increased spending pressures in the advent of the 2016 elections, and accelerating public investments amidst gaps in public investment efficiency. In addition, given its recently increased dependency on the South Sudan market for its exports, the protracted crisis in South Sudan could have severe consequences to the Ugandan economy. In that context, a coherent policy of social protection, including for the elderly, can promote social transformation and accelerate economic development. An effective social protection system is needed to protect vulnerable groups from negative shocks such as loss of employment, death of bread winner, or bad weather. Achieving the vision of a transformed Uganda means addressing vulnerabilities at both individual and at country levels. Uganda is already taking steps to start building an effective pension system, but challenges remain in ensuring transparent and proper governance of the pension funds; achieving efficiency objectives, building up the institutional capacity, and managing the fiscal pressures due to expenses to existing pensions and the new public pension scheme at the same time. Well designed and managed pension systems can contribute significantly to the country's ongoing transformation. 2014-06-24T21:29:35Z 2014-06-24T21:29:35Z 2014-06 http://documents.worldbank.org/curated/en/2014/06/19705558/reducing-old-age-economic-vulnerabilities-uganda-improve-pension-system http://hdl.handle.net/10986/18731 English en_US Uganda economic update;no. 4 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ Washington, DC Economic & Sector Work :: Economic Updates and Modeling Economic & Sector Work Africa Uganda |