Brief

Country Learning Note: macroeconomic policy co-ordination and management

• 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 whichestablishes the basis for their co-ordination across a range of macro and fiscal issues.

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