Uganda - Economic development



Uganda's economic development policy for the early 1990s was outlined in the Economic Recovery Program for 1988–92. State investment was lowered by 42% from the previous plan and the export sector was to be revived, particularly the nontraditional export sector. The investment budget was divided equally among the transport and communications sector, social infrastructure, agriculture, and the industry and tourism sector.

Inflation, which ran at 240% in 1987 and 42% in mid-1992, was under 5% for 1998. Nevertheless, a slowdown in privatization, low interest in foreign investment, and sustained but limited growth dimmed the prospects for economic development.

In 2000, Uganda became eligible for $1.3 billion in debt service relief under the International Monetary Fund (IMF)/World Bank Heavily Indebted Poor Countries (HIPC) initiative. In 2002, the IMF approved a three-year $17.8 million Poverty Reduction and Growth Facility (PRGF) Arrangement for Uganda, which was due to expire in September 2005. Political instability and poor economic management have stinted economic development, although gross domestic product (GDP) growth stood at 5.2% in 2002–03. The government was implementing a Poverty Eradication Action Plan (PEAP) in 2003, with the goal of reducing the incidence of poverty to less than 10% of the population by 2017.

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Oct 20, 2010 @ 9:09 am
How have you contributed to the economic development of Uganda?
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Jan 22, 2011 @ 2:02 am
THIS ARTICLE IS QUITE INTERESTING SHOWING US HOW UGANDA IS PROGRESSING ECONOMICALLY AND THAT IS WONDERFULL. FROM THE ABOVE VIEWS ON REDUCING POVERTY OF THE POPULATION BY 2017, I DONOT THINK IF SOME FACTORS WHERE CONSIDERED LIKE THE TREMENDOUS POPULATION GROWTH, FOR ME WHAT I THINK BEFORE THIS BODY WHICH IS IMPLEMENTING PEAP SHOULD SAY SUCH A THING, THEY FIRST CONSIDER THE POPULATION GROWTH RATES. THANKS
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Feb 27, 2011 @ 5:05 am
Looking at how Uganda has been progressing in economic growth from late 80's, it is realy very encouraging. I want us to critically examine the growth from the years 2000 onwards. In these years, the growth has been majorly in the change of figures in GDP and inflation. However, the social economic development in the name of poverty reduction needs to be refocused. For instance, the NAADS activities which roots resources to few individual farmers as case studies for other rural folk is not the best method if poverty is to be prosperity is to visit may people. Group activities in the rural areas tense to work very well. Look at SACCOS, it is one of the tools that should be encouraged seriously to help people save inorder to realise economic empowerment.
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David franicis white
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Oct 12, 2012 @ 6:18 pm
Uganda will be a success story in 2030 A.D.!!! THe sub-saharan african countries are ascending to greatness!!!

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