The government will in the next financial year of 2025/2026 focus on increasing household incomes and improving people’s livelihoods to achieve social-economic transformation in Uganda.
This was announced on Wednesday, September 11th, 2024, by the Prime Minister Robinah Nabbanja while officiating at the National Budget Conference for FY 2025/26 on behalf of H.E. the President Yoweri Kaguta Museveni at Speke Resort Munyonyo.
Nabbanja said the 2025/26 financial year budget will also focus more on enhancing the country’s economy.
“FY 2025/26 comes at the time when the government is committed to lifting and growing the economy in a low middle-income status guided by the tenfold growth strategy, the fourth national development plan, and the NRM manifesto,” Nabbanja stated.
She emphasized the government’s commitment to expand Uganda’s economy from the current GDP of USD 50 billion to USD 500 billion by 2040.
Nabbanja confirmed that Uganda’s economy has fully recovered from both domestic and external shocks that previously hampered growth over the past three financial years and is now on the right growth route.
She outlined key priorities for Uganda’s growth, including education, health, water, sanitation, hygiene, peace, and security.
According to her, under the transport and infrastructural sector, the government will focus on road maintenance, strategic road construction, rehabilitation of the meter gauge railway, and construction of the Standard Gauge Railway.
The government will also ensure funds availability to implement wealth creation initiative programs like Parish Development Model (PDM), Emyooga, Agriculture Credit Facility, Youth Skilling, and Commercial Agriculture, Electricity Transmission and Utilisation, Disaster Response Contingency, and International Commitments.
She notes that these priorities align with the government’s efforts to structurally transform the economy and shift labor into more productive employment, ahead of anticipated oil revenue flow.
The government identified four key sectors to drive growth agro-industrialization and light manufacturing, tourism development, mineral-based industrialization, including oil and gas, science, technology, and innovation (STI), including ICT, research, and development.
