This note describes the main tools for macroeconomic policy co-ordination and management in Uganda and they have evolved.
- Macroeconomic policy co-ordination in Uganda aims to ensure that the Government budget is financed in a way that is compatible with low and stable inflation.
- There are two main phases of macroeconomic policy coordination: the first, during budget preparation, is coordinated through the Macroeconomic Framework; and the second, during budget execution, is co-ordinated through management of Government cashflow and by setting quarterly limits on Government expenditure.
- The close working relationship between the Central Bank, Uganda Bureau of Statistics and the Ministry of Finance has been an essential component of Uganda’s success in macroeconomic policy co-ordination and management over the past 18 years.
- This relationship between the Ministry of Finance and each of the other institutions which establishes the basis for their co-ordination across a range of macro and fiscal issues.
The Country Learning Notes series is intended as a tool for policy makers and practitioners to learn from the experiences of other countries. Each note focuses on a specific country and a particular policy area, documenting the challenges faced and decisions taken to overcome them.