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For the past two decades, Uganda has had one of the most successful economies in Africa, combining high growth and low inflation. Real GDP growth was an estimated 5.8 per cent in the 2004/05 fiscal year and is projected to remain roughly steady at that rate in 2005/06. This strong economic performance is attributable to prudent macroeconomic management and bold structural reforms, supported by large inflows of overseas development assistance (ODA). However, recent unsettling political developments have led a number of international donors to reassess their support.

French

L’Ouganda, qui conjugue croissansce forte et inflation faible, figure depuis vingt ans parmi les économies d’Afrique les plus performantes. Selon les estimations, la croissance de son PIB en volume s’est établie à 5.8 pour cent sur l’exercice budgétaire 2004/05 et devrait rester à peu près au même niveau en 2005/06. Ces solides résultats s’expliquent par une gestion macroéconomique prudente et des réformes structurelles audacieuses, soutenues par d’abondants flux d’aide publique au développement (APD). Néanmoins, les récents troubles politiques ont conduit un certain nombre de bailleurs internationaux à réexaminer leur soutien.

English

SINCE YOWERIMUSEVENI and his National Resistance Movement (NRM) came to power in 1986, Uganda has recovered from the economic devastation wrought by Idi Amin. Annual output growth has averaged above 5 per cent, while fiscal consolidation and responsible monetary policy have brought inflation under control. This success has, however, relied heavily on foreign assistance. Uganda’s management of multiparty elections...

Depuis 1987, le programme d’ajustement et de réformes macro-économiques entrepris par la Tunisie a permis de bonnes performances en termes de croissance (4.6 pour cent par an entre 1992 et 2001), d’activité et de progrès social. La réussite de la politique macroéconomique tient essentiellement au gradualisme et à la cohérence des différentes mesures mises en place...

English

The Ugandan economy is benefiting from the successful implementation of sound economic policies. The success is shown in strong economic growth, low and steady inflation, increasing per capita incomes, and marked decline in the incidence of poverty. Real GDP growth remained strong in 2001/02 at 5.6 per cent, albeit slightly reduced from the annual average rate of 6 per cent achieved since 1994/95. The outlook on growth is stabilisation in 2002/03 with real GDP growth estimated at 5.7 per cent. Growth is projected to increase to 6.3 per cent in 2003/04. Prudent fiscal management has enabled Uganda to maintain an increased expenditure programme for poverty alleviation, which is beginning to make a positive impression on the poverty situation of the country. However, the recent budget outcome has been characterised by a widening deficit financed by large inflows of external budgetary support that has increased the dependence of the economy on foreign donors…

French
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