Uganda projects 10.4% economic growth in FY2026/27

Uganda projects 10.4% economic growth in FY2026/27

independent.co.ug

44min

KAMPALA, UGANDA | Xinhua | Uganda’s economy is forecast to expand by 10.4 percent by the end of the 2026/2027 financial year, up from an estimated 6.6 percent at the end of the 2025/2026 financial year.

The Ministry of Finance, Planning and Economic Development on Wednesday released a five-year National Budget Framework Paper, which showed that the growth outlook will be primarily driven by the commencement of oil production.

According to the paper, Uganda’s gross domestic product is projected to grow from 251.45 trillion Ugandan shillings (about 70.55 billion U.S. dollars) in the 2025/2026 financial year to 290.32 trillion Ugandan shillings in the 2026/2027 financial year.

The theme of the paper is “Full Monetization of Uganda’s Economy through Commercial Agriculture, Industrialization, Expanding and Broadening Social Services, Digital Transformation and Market Access.”

The ministry said the policy direction for the 2026/2027 financial year and the medium term will focus on ongoing investments in priority sectors and key enablers of the government’s 10-fold growth strategy.

The strategy aims to grow the economy from 50 billion dollars to 500 billion dollars by 2040, anchoring on agro-industrialization, tourism, mineral development, and science and technology innovation.