Kampala, Uganda: Finance Minister Henry Musasizi has unveiled a record national budget of Shs84.39 trillion for the Financial Year 2026/27, outlining an ambitious plan aimed at accelerating wealth creation, expanding jobs, and driving Uganda towards a US$500 billion economy under the government’s Tenfold Growth Strategy.
Presenting the budget before Parliament at Kololo Grounds, Musasizi said the FY2026/27 budget marks the commencement of implementing the National Resistance Movement (NRM) Manifesto and the second year of the Fourth National Development Plan (NDP IV), which is designed to deliver full monetisation of Uganda’s economy.
The budget is themed: “Full Monetisation of Uganda’s Economy through Commercial Agriculture, Industrialisation, Expanding and Broadening Services, Digital Transformation, and Market Access.”
Musasizi said Uganda enters the new financial year from a position of economic strength, citing sustained economic growth, macroeconomic stability, rising exports, expanded access to social services and continued infrastructure development.
He noted that Uganda’s Gross National Income per capita has risen to US$1,389, surpassing the lower-middle-income threshold. “The challenge before us is no longer simply growing the economy. The challenge is ensuring that growth translates into jobs, household incomes, enterprise development and prosperity for every Ugandan,” the minister stated.
Musasizi said the budget will prioritise productive sectors that support wealth creation and job generation, including agriculture, industrialisation, tourism, science and technology, mineral development, transport infrastructure, and digital transformation.
The budget also seeks to sustain investments in health, education, security, and social services while supporting local governments to improve service delivery across the country.
Musasizi told Parliament that Uganda’s economy remains resilient despite global economic shocks, attributing the performance to decades of investment in peace and security, infrastructure development, human capital, and regional integration.
Government projects that continued implementation of the Tenfold Growth Strategy will accelerate economic expansion, boost exports, increase household incomes, and strengthen Uganda’s competitiveness in regional and international markets.
FULL BUDGET SPEECH FOR FY 2026/27
The FY2026/27 budget is the largest in Uganda’s history and comes as the country prepares for commercial oil production and seeks to leverage strategic investments to transform the economy over the coming years.
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