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Author: Weltbank Publisher: ISBN: Category : Languages : en Pages :
Book Description
Uganda's real GDP grew at 2.9 percent in FY20, less than half the 6.8 percent recorded in FY19, due to the effects of the COVID-19 (coronavirus) crisis, and is expected to grow at a similar level in FY21, but downside risks are high. Economic activity stalled during the latter part of the fiscal year due to a domestic lockdown that lasted over four months, border closures for everything but essential cargo, and the spillover effects of disruption in global demand and global supply chains due to the COVID-19 pandemic. This resulted in a sharp contraction in public investment and deceleration in private consumption, which hit the industrial and service sectors hard, particularly the informal service sector. On a calendar year basis, real GDP growth is expected to contract by up to 1 percent in 2020, compared to 7.5 percent growth in 2019, and, as a result, real per capita GDP growth is expected to contract by about 4.5 percent. Even if GDP growth rebounds strongly by 2022, the level of per capita GDP is likely to remain well below its pre-COVID trajectory. As a result of these impacts, the COVID-19 crisis is threatening to reverse some of the gains made on structural transformation and the declining poverty trend of the past decade. This transformation was characterized by a reduction in the workforce employed in on-farm agriculture and a take-off in industrial production, largely in agro-processing. However, following the COVID shock, there have already been widespread firm closures, permanent layoffs in industry and services, a rapid slowdown of activity particularly in the urban informal sector, and a movement of labor back to farming. At the same time, household incomes have fallen, which is concerning given the high levels of vulnerability to poverty, limited social safety nets, and impacts this might have on human capital development and Uganda's capacity to benefit from its demographic transition.
Author: Weltbank Publisher: ISBN: Category : Languages : en Pages :
Book Description
Uganda's real GDP grew at 2.9 percent in FY20, less than half the 6.8 percent recorded in FY19, due to the effects of the COVID-19 (coronavirus) crisis, and is expected to grow at a similar level in FY21, but downside risks are high. Economic activity stalled during the latter part of the fiscal year due to a domestic lockdown that lasted over four months, border closures for everything but essential cargo, and the spillover effects of disruption in global demand and global supply chains due to the COVID-19 pandemic. This resulted in a sharp contraction in public investment and deceleration in private consumption, which hit the industrial and service sectors hard, particularly the informal service sector. On a calendar year basis, real GDP growth is expected to contract by up to 1 percent in 2020, compared to 7.5 percent growth in 2019, and, as a result, real per capita GDP growth is expected to contract by about 4.5 percent. Even if GDP growth rebounds strongly by 2022, the level of per capita GDP is likely to remain well below its pre-COVID trajectory. As a result of these impacts, the COVID-19 crisis is threatening to reverse some of the gains made on structural transformation and the declining poverty trend of the past decade. This transformation was characterized by a reduction in the workforce employed in on-farm agriculture and a take-off in industrial production, largely in agro-processing. However, following the COVID shock, there have already been widespread firm closures, permanent layoffs in industry and services, a rapid slowdown of activity particularly in the urban informal sector, and a movement of labor back to farming. At the same time, household incomes have fallen, which is concerning given the high levels of vulnerability to poverty, limited social safety nets, and impacts this might have on human capital development and Uganda's capacity to benefit from its demographic transition.
Author: Johannes G. Hoogeveen Publisher: World Bank Publications ISBN: 1464817774 Category : Business & Economics Languages : en Pages : 292
Book Description
COVID-19 is one of multiple crises to have hit the Middle East and North Africa (MENA) region in the decade following the Arab Spring. War, oil price declines, economic slowdowns, and now a pandemic are tearing at the social fabric of a region characterized by high rates of unemployment, high levels of informality, and low annual economic growth. The economic costs of the pandemic are estimated at about US$227 billion, and fiscal support packages across MENA are averaging 2.7 percent of GDP, putting pressure on already weak fiscal balances and making a quick recovery challenging. Even before the COVID-19 pandemic, MENA was the only region in the world experiencing increases in poverty and declines in life satisfaction. Distributional Impacts of COVID-19 in the Middle East and North Africa Region investigates how COVID-19 changed the welfare of individuals and households in the region. It does so by relying on phone surveys implemented across the region and complements these with microsimulation exercises to assess the impact of COVID-19 on jobs, income, poverty, and inequality. The two approaches complement and corroborate each other's results, thereby making the findings more robust and richer. This report's results show that, in the short run, poverty rates in MENA will increase significantly and inequality will widen. A group of 'new poor' is likely to emerge that may have difficulty recovering from the economic consequences of COVID-19. The report adds value by analyzing newly gathered primary data, along with projections based on newly modeled micro- and macrosimulations, and by identifying key issues that policy makers should focus on to enable a quick, inclusive, and sustained economic recovery.
Author: The World Bank;Government of Rwanda Publisher: World Bank Publications ISBN: 1464812853 Category : Business & Economics Languages : en Pages : 452
Book Description
A strong and widely acknowledged record of economic success-including a three-and-a-half-fold increase in per capita income since 1994--places Rwanda among the world’s fastest--growing economies. Traumatic memories of the 1994 genocide are gradually fading, as associations begin to take a more positive form--of a nation on the rise, powered by human resilience, a sense of common purpose, and a purposeful government. Past successes and a sense of frailty have fueled aspirations for a secure, prosperous, and modern future. Sustaining high rates of economic growth is at the heart of these ambitions. Recent formulations of the nation’s Vision 2050 set a target of achieving upper-middle-income status by 2035 and high-income status by 2050. Future Drivers of Growth in Rwanda: Innovation, Integration, Agglomeration, and Competition, a joint undertaking by experts from Rwanda and the World Bank Group, evaluates the country’s possibilities and options in this endeavor. The report identifies four essential drivers of growth--innovation, integration, agglomeration, and competition--and reforms in six priority areas: human capital development, export dynamism and regional integration, well-managed urbanization, competitive domestic enterprises, agricultural modernization, and capable and accountable public institutions.
Author: Roberta Gatti Publisher: ISBN: Category : Languages : en Pages : 55
Book Description
Overconfident: How Economic and Health Fault Lines Left the Middle East and North Africa Ill-Prepared to Face COVID This report examines the region's economic prospects in 2021, forecasting that the recovery will be both tenuous and uneven as per capita GDP level stays below pre-pandemic levels. COVID-19 was a stress-test for the region's public health systems, which were already overwhelmed even before the pandemic. Indeed, a decade of lackluster economic reforms left a legacy of large public sectors and high public debt that effectively crowded out investments in social services such as public health. This edition points out that the region's health systems were not only ill-prepared for the pandemic, but suffered from over-confidence, as authorities painted an overly optimistic picture in self-assessments of health system preparedness. Going forward, governments must improve data transparency for public health and undertake reforms to remedy historical underinvestment in public health systems.
Author: International Monetary Fund. Asia and Pacific Dept Publisher: International Monetary Fund ISBN: 1484314727 Category : Business & Economics Languages : en Pages : 77
Book Description
This Selected Issues paper examines the drivers and prospects for high levels of savings in China. China has one of the highest levels of national savings in the world, which is at the heart of its external and internal imbalances. High and rising household savings have mainly resulted from demographic changes as a result of the one-child policy and the breakdown of the social safety net during the transition from a planned to a market economy. Demographic changes will put downward pressure on national savings. Policy efforts to strengthen the social safety net and reduce income inequality are also needed to reduce savings further and faster and to boost consumption.
Author: World Bank Group Publisher: World Bank Publications ISBN: 1464809518 Category : Business & Economics Languages : en Pages : 605
Book Description
Why are carefully designed, sensible policies too often not adopted or implemented? When they are, why do they often fail to generate development outcomes such as security, growth, and equity? And why do some bad policies endure? World Development Report 2017: Governance and the Law addresses these fundamental questions, which are at the heart of development. Policy making and policy implementation do not occur in a vacuum. Rather, they take place in complex political and social settings, in which individuals and groups with unequal power interact within changing rules as they pursue conflicting interests. The process of these interactions is what this Report calls governance, and the space in which these interactions take place, the policy arena. The capacity of actors to commit and their willingness to cooperate and coordinate to achieve socially desirable goals are what matter for effectiveness. However, who bargains, who is excluded, and what barriers block entry to the policy arena determine the selection and implementation of policies and, consequently, their impact on development outcomes. Exclusion, capture, and clientelism are manifestations of power asymmetries that lead to failures to achieve security, growth, and equity. The distribution of power in society is partly determined by history. Yet, there is room for positive change. This Report reveals that governance can mitigate, even overcome, power asymmetries to bring about more effective policy interventions that achieve sustainable improvements in security, growth, and equity. This happens by shifting the incentives of those with power, reshaping their preferences in favor of good outcomes, and taking into account the interests of previously excluded participants. These changes can come about through bargains among elites and greater citizen engagement, as well as by international actors supporting rules that strengthen coalitions for reform.
Author: World Bank Publisher: World Bank Publications ISBN: 1464813388 Category : Business & Economics Languages : en Pages : 1734
Book Description
Sixteenth in a series of annual reports comparing business regulation in 190 economies, Doing Business 2019 measures aspects of regulation affecting 10 areas of everyday business activity: • Starting a business • Dealing with construction permits • Getting electricity • Registering property • Getting credit • Protecting minority investors • Paying taxes • Trading across borders • Enforcing contracts • Resolving insolvency These areas are included in the distance to frontier score and ease of doing business ranking. Doing Business also measures features of labor market regulation, which is not included in these two measures. This edition also presents the findings of the pilot indicator entitled 'Contracting with the Government,' which aims at benchmarking the efficiency, quality and transparency of public procurement systems worldwide. The report updates all indicators as of May 1, 2018, ranks economies on their overall 'ease of doing business', and analyzes reforms to business regulation -- identifying which economies are strengthening their business environment the most. Doing Business illustrates how reforms in business regulations are being used to analyze economic outcomes for domestic entrepreneurs and for the wider economy. It is a flagship product produced in partnership by the World Bank Group that garners worldwide attention on regulatory barriers to entrepreneurship. Almost 140 economies have used the Doing Business indicators to shape reform agendas and monitor improvements on the ground.
Author: Weltbank
Author: Weltbank
Author: 
Author: Hakeem Adeniyi Ajonbadi
Author: Johannes G. Hoogeveen
Author: The World Bank;Government of Rwanda
Author: Roberta Gatti
Author: International Monetary Fund. Asia and Pacific Dept
Author: World Bank Group
Author: World Bank
Author: World Bank