Browsing: National Development Plan (NDP) III

Uganda's 7% projected growth too ambitious, World Bank

The World Bank said Uganda’s 7 per cent projected growth rate under the National Development Plan (NDP) III, given the current economic fundamentals is too ambitious.

National Development Plan (NDP) III, is a government-working document for at least the next five years. It will start this year in the 2020/21 financial year.

Speaking during a media briefing in Kampala about the country’s economic outlook, the World Bank senior economist, Mr Richard Walker, said the government’s capital spending continues to fall, dropping to about 8 per cent in the last two financial years.

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Which he said has constrained Uganda’s fiscal policy which is characterised by low tax revenue to GDP ratio.
“Capital spending continues to fall short of expectations, diminishing the expected return from public investments. 5.3 per cent capital spending versing budget allocation of 6.4 per cent. This inability …