Uganda has gone through a rigorous monetary experiment in an environment where there is largely lack of basic infrastructure.
I do not have the figures, but going by Saccos that started - those that have collapsed and those that are still existing - there is an absolute experimental ground.
This can help to generate enough empirical data to understand in concrete terms what works between monetary and fiscal policies and where raw capitalism and if government intervention is really necessary in building up the basic infrastructure to propel a country’s sustainable development and growth.
What are the consumption levels per sector qua industrial revenues based on existing industrial production capacity, income/wages growth and market expansion? How do these arrays correlate to the aggressive government monetary policy and people’s hard work in taxis, boda bodas, motor garages, market vendors, traders and business startups?
Ministry of Finance and Bank of Uganda should launch a study to determine the country’s success with Saccos/monetary policy.
The point is, determine a convergence between monetary and fiscal policies and sustainable development and growth. How much financial support has gone into Saccos, youth fund, Naads, etc, and where are the success areas?