President Yoweri Kaguta Museveni has presented Uganda’s national budget for the 2025/2026 financial year, amounting to UGX 72.376 trillion. Addressing the nation during the budget ceremony at Kololo Ceremonial Grounds, Museveni declared that Uganda’s economy has officially “taken off.” He urged leaders at all levels to ensure that the budget delivers real results and is implemented with full accountability.
The budget, themed “Full Monetization of the Ugandan Economy Through Commercial Agriculture, Industrialization, Expanding and Broadening Services, Digital Transformation, and Market Access,” was formally presented by Finance Minister Matia Kasaija. The presentation followed parliamentary approval and fulfills constitutional requirements under Article 155(1).
President Museveni shared that Uganda’s economy is now valued at $61 billion using exchange rates, and $174 billion by purchasing power parity. With a population of about 45 million people, Uganda has moved from being classified as a least developed country to attaining lower-middle income status. He cited indicators such as GDP growth, a stable currency, increased job creation, higher export earnings, and more foreign direct investment as signs of national progress.
Reflecting on Uganda’s economic journey, Museveni noted that in 1986, the country’s GDP was just $3.9 billion. Nearly four decades later, that figure has multiplied over twentyfold. He emphasized the importance of recognizing these achievements, even amid the technical language of economic reports.
This year’s budget aligns with Uganda’s Fourth National Development Plan (NDP IV), which spans 2025/26 to 2029/30. It focuses on key productive sectors—agro-industrialization, tourism, mineral development (including oil and gas), and ICT—along with investments in infrastructure and services that support business growth.
Despite the positive outlook, the President raised concerns about inefficiencies in the use of public funds. He cited the mismanagement of resources meant for war veterans in Luweero and delays in compensating cattle losses in Teso, Lango, and Acholi. He urged officials to follow up on allocated funds and ensure accountability in every sector.
Museveni also questioned expenditures on sports facilities, such as Kakyeka Stadium, and demanded transparency from the National Council of Sports. He asked them to account for funds previously allocated and to update First Lady and Minister of Education and Sports, Janet Museveni.
On national security, the President defended the government’s rollout of digital number plates. He clarified that the technology is meant to support law enforcement and surveillance—not generate revenue. He referred to the recent murder of Wayengera Godfrey in Mukono as a tragic example that underscores the need for such systems. While fines may be associated with the initiative due to budget constraints, he stressed that its core aim is public safety.
Museveni reaffirmed his government’s commitment to poverty eradication through programs like NAADS, Operation Wealth Creation, the Parish Development Model (PDM), and Emyooga. He credited Ugandan scientists and innovators for supporting economic growth through projects such as clonal coffee production, dairy development, and palm oil farming on Kalangala Island.
The President also addressed the rising trend of vote-buying disguised as fundraising. He cautioned voters against accepting handouts from politicians seeking office and urged community leaders to question candidates who display unexplained wealth. Drawing from his own upbringing, he encouraged a return to grassroots contributions—known as okusonda—to promote collective ownership over public development.
Speaker of Parliament Anita Among commended the President for fulfilling his constitutional duty and pledged Parliament’s support in implementing the budget. She emphasized that the approved budget was the product of consultation with citizens, civil society, and other key stakeholders. Among encouraged Ugandans to stay engaged throughout the implementation phase, not just during planning.
Finance Minister Matia Kasaija projected a 6.4% economic growth rate for the 2025/26 financial year. He attributed this momentum to macroeconomic stability, public infrastructure investments, and a vibrant private sector. He also confirmed that Uganda met the United Nations criteria for graduating from least developed country status in March 2024.
The Human Capital Development Program has been allocated UGX 11.4 trillion, with investments directed toward teacher salaries, classroom construction, digital learning, and youth skills training under initiatives like Skilling Uganda and Presidential Industrial Hubs.
However, debt servicing remains a major expenditure in the new budget, consuming UGX 28.5 trillion. This includes interest payments, domestic debt refinancing, and settlement of arrears. The budget will be financed through UGX 37.2 trillion in domestic revenue, UGX 11.3 trillion in borrowing, and UGX 11.3 trillion in external project support.
UGX 6.8 trillion has been earmarked for transport infrastructure, including UGX 2.2 trillion for road works and UGX 1.17 trillion for the Standard Gauge Railway. Minister Kasaija highlighted key road projects and noted that the rehabilitation of the Tororo-Gulu railway line will be completed by February 2026.
To support inclusive economic growth, the government has allocated UGX 1.075 trillion to the Parish Development Model, UGX 100 billion to the Emyooga program, and UGX 3 billion to the informal sector. The Uganda Development Bank will receive UGX 414 billion to support agro-industrial and manufacturing investments.
The Finance Minister concluded by assuring the public that inflation remains under control and noted that the Ugandan shilling is among the most stable currencies in Africa.
The budget presentation was attended by Vice President Jessica Alupo, Chief Justice Alfonse Owiny Dollo, Deputy Speaker Thomas Tayebwa, Members of Parliament, diplomats, and other invited guests.
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