Download or read book Uganda Oil Revenue Management written by Weltbank and published by . This book was released on 2020 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: After Uganda enjoyed two decades of strong growth and poverty reduction in the 1990s and early 2000s, its economy slowed down, and social progress decelerated amid a steady increase of the population. Several constraints continue to undermine progress and social and economic transformation in Uganda. The start-up of oil production and revenues has the potential to accelerate growth by addressing some of the constraints to economic transformation, but it has to be managed well. Actual revenues from oil will depend on levels of production and international oil, with significant impact on government revenue, exports, and investmentsMaximizing the benefits from oil revenues requires maximizing efficiency across the entire revenue chain. Several analytical and technical assistance programs have recommended specific reforms to help Uganda maximize the dividends from its oil. This paper reassesses the adequacy of Uganda's public finance systems in providing an appropriate fiscal framework for determining spending as well as setting aside and managing savings for future generations. The rest of the paper is organized in three sections. Section 2 provides an update on the state of development of Uganda's oil sector. Section 3 discusses the current fiscal framework and what would need to be adjusted before the oil revenue starts flowing. Section 4 delves into the institutional design and operational management of the petroleum revenue investment reserve, and how it could be turned into a genuine SWF for Uganda.
Download or read book Analysis of Uganda s Oil Revenue Management Framework written by Margaret Magumba and published by . This book was released on 2019 with total page 11 pages. Available in PDF, EPUB and Kindle. Book excerpt: In 2016, existence of oil reserves in Uganda was confirmed and efforts to begin oil exploration were immediately kick started. The budding oil industry has given hope of a better future to Ugandans. However, being a finite resource, oil exploration needs to be done with due consideration of future generations. Its benefits and costs ought to be evenly distributed across present and future generations. This analysis, which scrutinizes Uganda's oil management framework, finds that: in designing Uganda's Oil and Gas policy, due consideration was given to the need to ensure balanced distribution of costs and benefits of the oil industry between the current and future generations. The focal plausible policies for effective oil management in Uganda were rightly incorporated in the existing statutes. They include: maintaining of non-oil fiscal balances, following strict expenditure rules, and setting up a separate well-managed oil fund. Another key factor, which was also given due attention in Uganda's oil management policy, is ensuring that oil proceeds are chiefly spent on long term developmental investments in human and physical capital. With the relevant policies already in existence, the huge task ahead is for the country to ensure that these policies are adhered to.
Download or read book Oil Wealth and Development in Uganda and Beyond written by Arnim Langer and published by Leuven University Press. This book was released on 2020-01-07 with total page 396 pages. Available in PDF, EPUB and Kindle. Book excerpt: Multidisciplinary perspectives to governance of oil in African countries Large quantities of oil were discovered in the Albertine Rift Valley in Western Uganda in 2006. The sound management of these oil resources and revenues is undoubtedly one of the key public policy challenges for Uganda as it is for other African countries with large oil and/or gas endowments. With oil expected to start flowing in 2021, the current book analyses how this East African country is preparing for the challenge of effectively, efficiently, and transparently managing its oil sector and resources. Adopting a multidisciplinary, comprehensive, and comparative approach, the book identifies a broad scope of issues that need to be addressed in order for Uganda to realise the full potential of its oil wealth for national economic transformation. Predominantly grounded in local scholarship and including chapters drawing on the experiences of Nigeria, Ghana, and Kenya, the book blazes a trail on governance of African oil in an era of emerging producers. Oil Wealth and Development in Uganda and Beyond will be of great interest to social scientists and economic and social policy makers in oil-producing countries. It is suitable for course adoption across such disciplines as International/Global Affairs, Political Economy, Geography, Environmental Studies, Economics, Energy Studies, Development, Politics, Peace, Security and African Studies. Contributors: Badru Bukenya (Makerere University), Moses Isabirye (Busitema University), Wilson Bahati Kazi (Uganda Revenue Authority), Corti Paul Lakuma (Economic Policy Research Centre), Joseph Mawejje (Economic Policy Research Centre), Pamela Mbabazi (Uganda National Planning Authority), Martin Muhangi (independent researcher), Roberts Muriisa (Mbarara University of Science and Technology), Chris Byaruhanga Musiime (independent researcher), Germano Mwabu (University of Nairobi), Jackson A. Mwakali (Makerere University), Tom Owang (Mbarara University of Science and Technology), Joseph Oloka-Onyango (Makerere University), Peter Quartey (University of Ghana), Peter Wandera (Transparency International Uganda), Kathleen Brophy (Transparency International Uganda), Jaqueline Nakaiza (independent researcher), Babra Beyeza (independent researcher), Jackson Byaruhanga (Bank of Uganda), Emmanuel Abbey (University of Ghana).
Download or read book Oil and Gas Revenue Management Policy written by and published by . This book was released on 2012 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Crafting an Oil Revenue sharing Mechanism for Uganda written by and published by . This book was released on 2009 with total page 57 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Does Oil Revenue Crowd Out Other Tax Revenues Policy Lessons for Uganda written by Vincent Belinga and published by . This book was released on 2017 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines the relationship between hydrocarbon and non-hydrocarbon revenues using a probabilistic panel model with data covering 30 resource-rich countries over 1992-2012. It also discusses policy implications for Uganda, a country with recently discovered oil reserves. The findings show that although an increase in hydrocarbon revenues is likely to crowd out non-resource revenues, improved institutional quality could dampen or reverse this effect. In general, regulatory quality, rule of law, government effectiveness, and political stability are critically important governance indicators. In light of Uganda's forthcoming exploitation of its oil, the odds of avoiding the crowding out of non-resource revenues are high with a substantial improvement of institutional quality in terms of political stability, regulatory quality, and government effectiveness. Currently, these indicators stand very low for Uganda as compared with Botswana.
Download or read book Soaring of the Gulf Falcons written by Reda Cherif and published by International Monetary Fund. This book was released on 2014-09-24 with total page 55 pages. Available in PDF, EPUB and Kindle. Book excerpt: A key priority for the Gulf Cooperation Council (GCC) countries is to create a dynamic non-oil tradable sector to support sustainable growth. Since export diversification takes a long time, it has to start now. We argue that the failure to diversify away from oil stems mainly from market failures rather than government failures. To tackle market failures, the government needs to change the incentive structure for workers and firms. Experiences of oil exporters that managed to diversify suggest that a focus on competing in international markets and an emphasis on technological upgrade and climbing the “quality ladder” are crucial.
Download or read book Oil and Governance written by David G. Victor and published by Cambridge University Press. This book was released on 2011-12-08 with total page 1035 pages. Available in PDF, EPUB and Kindle. Book excerpt: National oil companies (NOCs) play an important role in the world economy. They produce most of the world's oil and bankroll governments across the globe. This book explains the variation in performance and strategy for NOCs and provides fresh insights into the future of the oil industry.
Download or read book Key Issues in Natural Resource Taxation and Revenue Management in the Commonwealth written by Daniel Wilde and published by Commonwealth Secretariat. This book was released on 2016-10-11 with total page 49 pages. Available in PDF, EPUB and Kindle. Book excerpt: Public policies in taxation and revenue management are key to ensuring natural resource wealth results in economic development. Tax policy and systems should ensure that whenever natural resources are extracted, the host state receives a fair share of revenue. Revenue management policies are required to ensure that government revenues from natural resources are wisely used to finance sustainable economic development. This Economic Paper analyses key issues in natural resource taxation and revenue management and recommends policies that can improve countries’ economic performance. The discussion draws on economic theory, empirical evidence and the work of the Commonwealth Secretariat.
Download or read book Oil to Cash written by Todd Moss and published by CGD Books. This book was released on 2015-06-10 with total page 190 pages. Available in PDF, EPUB and Kindle. Book excerpt: Oil to Cash explores one option to help countries with new oil revenue avoid the so-called resource curse: just give the money directly to citizens. A universal, transparent, and regular cash transfer would not only provide a concrete benefit to regular people, but would also create powerful incentives for citizens to hold their government accountable. Oil to Cash details how and where this idea could work and how policymakers can learn from the experiences with cash transfers in places like Mexico, Mongolia, and Alaska.
Download or read book Fiscal Regimes for Extractive Industries Design and Implementation written by International Monetary Fund. Fiscal Affairs Dept. and published by International Monetary Fund. This book was released on 2012-08-16 with total page 82 pages. Available in PDF, EPUB and Kindle. Book excerpt: Better designed and implemented fiscal regimes for oil, gas, and mining can make a substantial contribution to the revenue needs of many developing countries while ensuring an attractive return for investors, according to a new policy paper from the International Monetary Fund. Revenues from extractive industries (EIs) have major macroeconomic implications. The EIs account for over half of government revenues in many petroleum-rich countries, and for over 20 percent in mining countries. About one-third of IMF member countries find (or could find) resource revenues “macro-critical” – especially with large numbers of recent new discoveries and planned oil, gas, and mining developments. IMF policy advice and technical assistance in the field has massively expanded in recent years – driven by demand from member countries and supported by increased donor finance. The paper sets out the analytical framework underpinning, and key elements of, the country-specific advice given. Also available in Arabic: ????? ??????? ?????? ???????? ???????????: ??????? ???????? Also available in French: Régimes fiscaux des industries extractives: conception et application Also available in Spanish: Regímenes fiscales de las industrias extractivas: Diseño y aplicación
Download or read book Uganda written by International Monetary Fund. Fiscal Affairs Dept. and published by International Monetary Fund. This book was released on 2017-09-15 with total page 25 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Technical Assistance Report discusses recommendations for developing a “Charter for Fiscal Responsibility” in Uganda. Publication of a “Charter for Fiscal Responsibility” at the start of each new Parliament is a requirement of Uganda’s new Public Financial Management Act. The Charter should set out measurable medium-term objectives for fiscal policy, and explain the methodology, data, and procedures by which performance against the objectives would be measured. The Charter should also be used to develop transparent fiscal reporting requirements and establish the role of fiscal objectives in underpinning the annual budget process.
Download or read book Uganda written by International Monetary Fund and published by International Monetary Fund. This book was released on 2011-10-19 with total page 75 pages. Available in PDF, EPUB and Kindle. Book excerpt: Economic growth has recovered, but higher food and fuel prices have sparked a sharp rise in inflation. Monetary policy has been tightened to contain core inflation and effects of the food and fuel price shocks. The government has allowed for scaling up of infrastructure investment spending. The programmed adjustment of fiscal and monetary policies will help put Uganda on a more sustainable medium-term trajectory. Eliminating tax exemptions and incentives will address the revenue gap. The planned oil revenue management framework is encouraging.
Download or read book Natural Resource Taxation in Mexico Some Considerations written by Ms. Alpa Shah and published by International Monetary Fund. This book was released on 2021-10-18 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: Mexico has large extractive industries and it traditionally has raised sizable fiscal revenues from the oil and gas sector. A confluence of factors—elevated commodity prices, financial challenges of the state-owned oil company Pemex, and revenue needs for financing social and public investment spending over the medium term—suggest that a review of Mexico’s taxation regimes for natural resources would be opportune, against the backdrop of a comprehensive approach to tackling Mexico’s challenges. This paper identifies opportunities for redesigning mining taxation to increase somewhat the revenue intake while maintaining the favorable investment profile of the sector. It also discusses recent reforms to the oil and gas fiscal regime and future reform considerations, with attention to the attractiveness of investment on commercial terms—an issue that should be placed in the context of an overall reform of Pemex’s business strategy and possibly of the energy sector more generally.
Download or read book Uganda written by International Monetary Fund. African Dept. and published by International Monetary Fund. This book was released on 2019-05-07 with total page 88 pages. Available in PDF, EPUB and Kindle. Book excerpt: This 2019 Article IV Consultation discusses that Uganda has made impressive development gains and achieved the Millennium Development Goal on halving poverty ahead of schedule. However, going forward, Uganda must create over 600,000 jobs per year to keep up with its growing population, while making further progress on poverty reduction and the Sustainable Development Goals. The authorities’ development strategy centers on infrastructure and a nascent oil sector. If investments proceed as planned, growth could range between 6 and 7 percent over the next five years. It is important to adopt an effective fiscal anchor and strengthen the budget process to become more binding for fiscal outcomes. It is also recommended to support human capital development and make growth more inclusive by improving the efficiency of public services and providing adequate budget allocations for social sectors. The consultation also suggests strengthening implementation and institutions of the governance and anti-corruption framework. Ensure that the Anti-Money Laundering/Countering the Financing of Terrorism regime is brought in line with international standards.
Download or read book Advancing the Ugandan Economy written by Ezra Sabiti Suruma and published by Brookings Institution Press. This book was released on 2014-04-30 with total page 234 pages. Available in PDF, EPUB and Kindle. Book excerpt: Internal conflicts, dictatorship, and economic disintegration characterized the first twenty-five years of Uganda’s independence from British colonial rule, which culminated in the reign of Idi Amin and a violent civil war. The country has since achieved an astounding turnaround of stability and growth. Advancing the Ugandan Economy is a first-hand look at the remarkable policy changes that took place from 1986 to 2012 and their effect in contrast with the turbulent events after independence. Ezra Suruma held several key positions in the Ugandan government during the nation’s transition period, including minister of finance. His insightful recounting of those times demonstrates that African countries can achieve economic stability and sustain rapid growth when they meet at least two interdependent conditions: establishing a stable and secure political framework and unleashing entrepreneurialism. Suruma also highlights the strategic areas that still require fundamental reform if Uganda is to become a modern state and shares his vision for the future of his country. Rarely in African history has so much positive political and economic transformation of a country been achieved in such a short time. Suruma’s account of the commitment, determination, vision, and dexterity of the Ugandan government holds invaluable lessons in managing the still complex policy challenges facing the African continent.
Download or read book Covering Oil written by Svetlana Tsalik and published by Lifting the Resource Curse. This book was released on 2005 with total page 160 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Revenue Watch program and the Initiative for Policy Dialogue promote transparency and civic participation in natural resource policymaking. Journalists know how hard it is to report on government management of oil, gas, and other natural resource revenues. Governments and industry are seldom forthcoming. And reporters themselves usually lack the background in economics, engineering, geology, and corporate finance helpful to understanding the energy industry and the effects of resource wealth. This book attempts to redress the balance with practical information in easy to understand language. Chapters include Understanding the Resource Curse, A Primer on Oil, Oil Companies and the International Oil Market, the ABCs of Petroleum Contracts, and the Environmental, Social, and Human Rights Impacts of Oil Development. Tip sheets inform reporters about stories to pursue and questions to ask.
