KAMPALA- The Prime Minister of Uganda Rt Hon Robbina Nabbanja has retaliated governments commitment towards the building and expanding the size of the Economy by 2026.she made the remarks at the opening ceremony of the National Budget conference.
The National budget conference is aimed at guiding the overall budget process for the financial year and is running under the theme “full monetization of Uganda’s economy through commercial agriculture industrialization, expanding and broadening services, digital transformation and market access.
she projected the Economic growth rate targeting a double digit to grow from 6.5 to 8% per anum.
Key priorities include Reducing poverty from the current 20.3 percent to 14 percent, double-digit growth to double the current GDP by Financial year 2029/30;and achieving an average of 884,962 stock of jobs.
She says the financial year 2025/ 2026 will be the last year of implementing the NRM manifesto and that government is under obligation to provide accountability for what it has done in the last five years.
She highlighted the strategy to grow the economy 10-fold from USD 55 billion in FY 2023/24 to USD 550 billion in the next 15 years .
Through the four anchor sectors of Argo-industrialization, Tourism development, Minerals development, oil and gas as well as Science Technology & innovation (ATMS).
The Permanent secretary ministry of finance and economic development Ramathan Ngobi says government will continue to focus on increasing revenue, controlling borrowing, ensuring efficiency and effectiveness in the use the limited resources.
Finance minister assured the public that inflation has been reduced within the target rate of 5% +/-3 and that government is Pursuing a prudent fiscal policy with the aim of supporting macroeconomic stability.
He says Ugandans will start realizing the benefits of social economic transformation when Uganda’s oil revenues start flowing in.
The National budget conference is aimed at guiding the overall budget process for the financial year.
Theme full monetization of Uganda’s economy through commercial agriculture industrialization, expanding and broadening services, digital transformation and market access.
