Well informed economic analysis in the media has a vital contribution to make to public debate in Uganda. It is essential, for the health of democracy, that statements about the economy and public policy proposals receive critical scrutiny in the media, by those with the expertise to do this. The media’s record in this regard is rather patchy.
In the trough of the economic cycle, governments can then allow automatic stabilisers to develop their full effect up to the budget deficit ceiling of 3 per cent of GDP. Not least, demographic developments require the budget to be balanced over the economic cycle as a whole. Despite these uncertainties, both the markets and the Eurosystem expect the recovery to continue.