The Independent Uganda: You get the Truth we Pay the Price
In addition, oil production, regional integration, and the completion of many infrastructure projects will further supportgrowth, he said.
Seen as one measure of reducing borrowing, Kasaija said that fiscal policy will continue to support ongoing infrastructure investment and social service delivery.
To achieve this, he said, the Domestic Revenue Mobilization Strategy (DRMS) targets a revenue-to-GDP ratio of 16% over the medium term and in the long-term, 18-20% is the desired revenue-to-GDP ratio.
To achieve this, he said structural reforms will focus on enhancing the budget process, public investment management, preparing for oil production including putting in place a strong governance framework for the sector, and strengthening the financial sector.
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Debt levels for big economies The United States recorded a government debt equivalent to 105.40 percent of the country’s Gross Domestic Product in 2017. Government Debt to GDP in the United States averaged 61.70 percent from 1940 until 2017, reaching an all time high of 118.90 percent in 1946 and a record low of 31.70 percent in 1981. The United Kingdom recorded a government debt equivalent to 85.30 percent of the country’s Gross Domestic Product in 2017. Government Debt to GDP in the United Kingdom averaged 43.17 percent from 1975 until 2017, reaching an all time high of 85.30 percent in 2017 and a record low of 21.70 percent in 1991. Norway recorded a government debt equivalent to 36.20 percent of the country’s Gross Domestic Product in 2017. Government Debt to GDP in Norway averaged 38.01 percent from 1980 until 2017, reaching an all time high of 53.70 percent in 1993 and a record low of 27.30 percent in 2014. France recorded a government debt equivalent to 97 percent of the country’s Gross Domestic Product in 2017. Government Debt to GDP in France averaged 57.16 percent from 1980 until 2017, reaching an all time high of 97 percent in 2017 and a record low of 20.70 percent in 1980 |
