Uganda Country Economic Memorandum : Economic Diversification and Growth in the Era of Oil and Volatility
The objective of the Ugandan government is to make Uganda an upper - middle income country within thirty years. Economic diversification is a key component of that strategy. The country economic memorandum (CEM) report discusses how the emergence o...
| Main Authors: | , |
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| Format: | Report |
| Language: | English en_US |
| Published: |
World Bank, Kampala, Uganda
2016
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| Subjects: | |
| Online Access: | http://documents.worldbank.org/curated/en/2015/06/25933496/uganda-country-economic-memorandum-economic-diversification-growth-era-oil-volatility-full-report http://hdl.handle.net/10986/24789 |
| Summary: | The objective of the Ugandan government
is to make Uganda an upper - middle income country within
thirty years. Economic diversification is a key component of
that strategy. The country economic memorandum (CEM) report
discusses how the emergence of oil and mineral production
can contribute to Uganda’s effort to promote economic
diversification as a means to achieve sustainable and shared
growth. Based on the lessons from international experience,
the report outlines the elements of a development and
diversification strategy, which the Ugandan government may
wish to consider in the design of its macroeconomic, fiscal,
and sectoral development policies. It then focuses on the
set of policies required to maximize the benefits of a
diversification strategy in an oil-producing country.
Finally it describes a series of actions which the
government should plan, and carry out to deal with a number
of specific implementation issues. The first part of the
report focuses on the importance of economic diversification
for Uganda and on the prospects and challenges of oil and
mineral development. It addresses the following three
issues: (a) why diversification is important for economic
development?; (b) where Uganda stands in that area and why
it should give a new impetus to its diversification
strategy?; and (c) what are the prospects, possible impact,
and challenges associated to oil and mining development for
Uganda’s economy? |
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