Uganda: Technical Assistance Report-Developing the Charter for Fiscal Responsibility
IMF Staff Country Reports, September 15, 2017
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- Uganda: Technical Assistance Report-Developing the Charter for Fiscal Responsibility
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Bibliographic details
- Published: September 15, 2017
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781484317747.002
Executive summary
- Publication date: September 15, 2017
- 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.
Key recommendations and policy guidance
- Develop a Charter for Fiscal Responsibility at the start of each new Parliament as required by the Public Financial Management Act.
- Set out measurable medium-term objectives for fiscal policy within the Charter.
- Explain the methodology, data, and procedures by which performance against the objectives would be measured.
- Use the Charter to develop transparent fiscal reporting requirements.
- Establish the role of fiscal objectives in underpinning the annual budget process.
Thematic focus areas
- Fiscal law
- Fiscal policy
- Fiscal risks
- Macroeconomic and fiscal forecasts
- Public financial management (PFM)
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- Country Report