This Selected Issues paper and Statistical Appendix analyzes poverty and social development in Uganda. The paper reviews recent poverty and inequality trends, examines how poor people are coping with risk and vulnerability, analyzes the relationship between economic growth, structural reform and poverty, and describes the government policies in these areas. The paper also provides a brief overview of major institutional developments in Uganda’s financial sector since 1993 with regard to the legal, accounting, and general regulatory framework in which financial institutions operate.
III. N et S ubsidies to P ublic E nterprises in U ganda 15
78. The reform of public enterprises (PEs) affects financial transactions between the government and PEs. Moreover, since savings in net subsidies or financial support to PEs provide scope for increasing expenditures in priority areas within a sustainable fiscal deficit, successful public enterprise reform is important for Uganda. This chapter discusses the evolution of net subsidiestoPEs in Uganda between 1992/93 (July–June) and 1997/98, and identifies their causes and main recipients, thus
Uganda Intervention in the Cooperative Bank, 1998–99
9. Financial Sector, end-December 1998
10. Financial Sector Legislation
11. Financial Sector Regulation
12. Transactions of Deposit Insurance Fund, 1994–February 1999
13. Concentration of the Commercial Banking Sector, 1995–98
14. Commercial Bank Market Share, End-December 1998
III. Net Subsidies to Public Enterprises in Uganda
A. Definition of Net Subsidies
B. Net SubsidiestoPEs in Uganda
Uganda Railways Corporation (URC)
Uganda Commercial Bank (UCB)
Mr. Bernardin Akitoby, Mr. Gerd Schwartz, and Mr. Richard Hemming
, and focusing on whether subsidiestoPEs are transparent, implemented through the budget, and available to private competitors.
Based on these considerations, a flexible approach to the coverage of PEs in fiscal indicators seems warranted. First, over time, all IMF member countries should begin systematically to compile and disseminate statistics on the operations of their PEs, ideally in a form comparable to government statistics. But the decision as to whether fiscal reporting and monitoring, and fiscal indicators and targets, should focus on the
, but raising compliance among PEs – currently none of which pay VAT– will be crucial both to bring deficits down in the future and for securing budget support from donors. The next step for direct taxes is to follow through with penalties for noncompliance, including nonfinancial ones. On subsidies, returning TMTS referrals to a committee of doctors should begin to bring costs down. The authorities should also continue to coordinate with donors to ensure scholarships remain at a sustainable level and bring subsidiestoPEs transparently on budget. Public wage
no obvious comparator in the private sector and their accounting may be difficult to interpret, which would call for using broader benchmarks of performance; and finally,
the analysis of subsidies should recognize that even some private firms perform QFAs and receive subsidies. It is therefore important to look at whether subsidiestoPEs are transparent, implemented through the budget, and available to private competitors.
C. The Way Forward
36. Based on the considerations above, the staff proposes a modified approach to the coverage issue
This paper reports on findings from eight pilot country studies on public investment that were carried out during the second half of 2004. The pilot country studies covered a diverse group of countries. Specifically, they included countries in Latin America (Brazil, Chile, Colombia, and Peru), Africa (Ethiopia and Ghana), the Middle East (Jordan), and Asia (India).
This paper discusses Tuvalu’s economic condition, internal happenings, external linkages, and climate. The country has reported slow economic growth after the global crisis. The export and economic expansions have been minimal with many of its goods imported. The main source of income for the country continue to be remittances from its citizens working abroad and donor assistance. The government has laid out a rigid agenda for improving fiscal strength, literacy rate, power, health, and reducing nonpriority expenditure. The authorities believe that these challenges have given a fighting spirit to the country.