Financial Year 2025/26: Finance Ministry Targets a 10-Fold Economic Growth Strategy

Uganda’s economy registered a growth of 6.7% in the first quarter of FY 2024/25 compared to 5.6% registered in the same period during FY 2023/24.

There has also been increase in formal employment by 2.5% from 846,489 employees in December 2024 to 868,280 in January 2025 according to the payee register. Growth in employment is mainly in mining and quarrying, education and public administration.

This was contained in the remarks made by the Minister of State for General Duties Henry Musasizi while appearing before Uganda Parliament Committee on Finance together with the Accounting Officer Ministry of Finance Dr. Sengonzi Damulira to present the Ministerial Policy Statement FY 2025/26 at the annual budget estimates where he laid on table the appropriation bill 2025 and the tax bills. Musasizi said Uganda targets a 10-fold economic growth strategy.

The total budget for FY 2025/26 amounts to Shillings Seventy One Trillion, Nine Hundred and Fifty Six Billion, Six Hundred and Twenty One Million, Five Hundred and Thirty Thousand, Six Hundred and Eighty Five. (Shs. 71,956,621,530,685).

Speaking about wealth creation funds Hon. Henry Musasizi said the parish revolving fund capitalization under Parish Development Model(PDM) stands at Shs.2.728 trillion and of this, Shs 2.286 trillion has been disbursed to more than 2 million beneficiaries.This reflects disbursement rate of 83.66%.

The deputy speaker Thomas Tayebwa who chaired the session referred the proposed budget for the 2025/26 to the committee on budget for processing.

On the other hand, the permanent secretary and secretary to the Treasury, Ramathan Ggoobi (@rggoobi) has issued a circular to all accounting officers to ensure that the 2025/26 budget is credible. He highlighted that additional resources have been mobilized to cater for critical budget commitments like security, elections, AFCON and clearance of outstanding domestic arrears among others