Delivering Industrialisation
Economic transformation is necessary for sustained growth in output,
decent jobs, incomes, and social development. The macroeconomic stability
over the last three decades unlocked an episode of moderate to high GDP
growth coupled with promising signs of early economic transformation,
including export growth and diversification. However, progress against
each economic transformation metric eventually stalled. Combined with
rapid population growth, this has translated into large-scale
underemployment, stagnating incomes for most citizens, and rising poverty.
Faced with a rapidly growing, urbanising, and increasingly educated and
connected youth population as well as growing discontent in cities, the
political legitimacy of Uganda’s leadership will increasingly depend not only
on peace and stability, but also on the promise of decent jobs and incomes.
