Managing a Modest Boom: Oil revenues in Uganda

New OxCarre Research Paper by Mark Henstridge and John Page:
This paper seeks to de-mystify the opportunities and challenges of oil in Uganda: not much oil revenue will arrive for at least a decade; it will then climb to 3-9 percent of GDP for about 20 years. It will not transform Uganda, but can be beneficial or disruptive. To manage a modest boom, policy needs to focus on growth and competitiveness now. Careful choices on spending and the quality of public investment are essential. Institutional and regulatory reform, infrastructure, skills and specialist knowledge can strengthen the investment climate. A strategy for economic diversification focused on agriculture, ‘investing to invest’, and connecting to the coast is also needed.