By David Rupiny
Uganda’s President Yoweri Museveni has said the country’s economy is growing by leaps and bounds, making it a land of opportunity and promise.
Speaking after reading of the 2026/27 National Budget, the President said: “As we implement the Financial Year 2026/27 Budget, we must remain focused on Uganda’s strategic goal of socio-economic transformation. Our economy is growing at 6.4% and is projected to expand to 10.2% next year, driven in part by petroleum. By fully utilizing our vast potential, taking advantage of the African market, and ensuring that every household joins the money economy, we shall create prosperity for all Ugandans.”
The Minister of Finance, Planning and Economic Development, Henry Musasizi, said the Ugandan economy has expanded to USD 69 billion and is projected to grow at double-digit rates, driven by strong export performance, first oil, and sustained wealth-creation interventions.
“More importantly, this growth is increasingly translating into jobs, higher incomes and better livelihood for Ugandans,” said the Minister.
The Minister said this during the budget speech for financial year 2026/27. He said with commercial oil production commencing later this calendar year, growth is projected to accelerate to 10.2 percent in FY 2026/27.
“This will mark Uganda’s first return to double‑digit growth since the reforms of the 1990s. Most importantly, a larger economy will create more jobs, raise household incomes, expand opportunities for business, and generate the resources required to invest in quality education, healthcare, infrastructure, security, and other public services that improve the lives of Ugandans,” said the Minister.
Minister Musasizi said investor confidence is rising, and the Ugandan diaspora is responding with increased remittances, investment and active participation in the country’s transformation.
He said this Budget aims to accelerate the attainment of the Tenfold Growth Strategy, adding that Government has allocated 95.6 percent of discretionary resources to the ATMS – Agro-industrialisation, Tourism Development, Mineral-Based Industrialisation, and Science, Technology and Innovation—and their key enablers.
“This Budget prioritises production, productivity, value addition, exports, and job creation. I invite the private sector to take full advantage of these opportunities to create wealth,” he said.
Musasizi also said this Budget launches Uganda into the “Kisanja No More Sleep” and Every Ugandan must actively engage in wealth creation, and every leader must be accountable for transforming households and communities.
He noted that the era of planning and debate is over and the era of implementation and results has begun.
“Our mission is clear: produce more, earn more, export more, and lift every household out of subsistence. I dedicate this Budget to all wealth creators, especially the youth, whose energy, enterprise and innovation will drive Uganda’s transformation into a 500-billion-dollar economy,” he concluded.
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