Citation:

Sawuya Nakijoba, Enock W.N. Bulime. "Is Sustainable Green Growth Possible in Uganda? The Role of Fiscal Policy" International Research Journal of Economics and Management Studies, Vol. 2, No. 3, pp. 491-505, 2023.

Abstract:

Recent studies have suggested that climate change could have a significant impact on economic growth and development. As a result, maintaining Sustainable Green Growth is vital to supporting economic growth and development while conserving natural resources and the environment for people's quality of life in society. Fiscal policy can play a critical role in promoting SGG beyond earlier conventional responses to climate change. Specifically, the COVID-19-induced economic downturn and uncertainty could play a catalytic role in advancing fiscal measures to support more green interventions and investments. Further, the government can continue to support and facilitate research and development (R&D) in climate-smart technologies. Other measures include stepping up the enforcement of environmental taxes and fees to correct price signals and change consumer and business behaviour towards more sustainable patterns. Fiscal incentives for green financial mechanisms can also be implemented to help leverage private financing for green investment.

References:

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[17] Carbon taxes are charged on the carbon content of fossil fuels or their emissions.
[18] The development of drought-resilient crops, the expansion of forest coverage, and the preservation of wetlands and swamps.
[19] https://greeneconomytracker.org/country/uganda

Keywords:

Green Growth, Fiscal Policy, SGG, GGDS.