Uganda is awaiting the maiden budget speech of Finance Minister Henry Musasizi, who is set to present the national budget for the Financial Year 2026/27 today(Thursday) at the Kololo Ceremonial Grounds in Kampala on behalf of President Yoweri Kaguta Museveni.
The budget speech, scheduled for 2:00 p.m., will outline spending priorities under the approved Shs84.3 trillion national budget. This year’s budget is anchored on the theme: “Full Monetisation of Uganda’s Economy through Commercial Agriculture, Industrialisation, Expanding and Broadening Services, Digital Transformation and Market Access.”
The 2026/27 financial year is expected to mark several significant milestones for Uganda. Among the most notable is the anticipated confirmation in March 2027 of Uganda’s graduation from the category of Least Developed Countries (LDCs), nearly 65 years after independence in 1962.
Government officials describe the expected transition as a major economic milestone that could reduce sovereign risk, attract premium international investment, and position Uganda as a more competitive and self-sustaining economy on the African continent.
At the same time, Uganda is expected to officially join the ranks of oil-producing nations, with First Oil projected in the first half of the 2026/27 financial year. The development follows nearly two decades of planning, investment, and coordination across multiple government sectors and private stakeholders.
Government also says the new financial year will strengthen the delivery of public services through the Parish Development Model (PDM), as part of broader efforts to achieve inclusive economic growth.
The 2026/27 budget has been designed to accelerate Uganda’s shift from incremental growth to a productivity-driven economy. Government is targeting a reduction in the proportion of households dependent on subsistence farming to 28.5 percent by the end of FY2026/27, down from the current 33 percent. This transition is expected to be driven by commercial agriculture, growth of Micro, Small and Medium Enterprises (MSMEs), and the expansion of the PDM.
Meanwhile, tourism stakeholders in the Kigezi Sub-region have called on government to increase investment in the tourism sector in the upcoming budget.
According to government reports, tourism generates between US$1.28 billion and US$2.5 billion annually, contributing between 5.7 and 5.9 percent to Uganda’s Gross Domestic Product (GDP). Despite the sector receiving Shs430 billion in the 2025/26 financial year, tourism players in Kigezi argue that the allocation remains inadequate considering the sector’s contribution to the economy.
Eng. Ivan Mbabazi Batuma, Chairperson of the Kigezi Tourism Cluster, urged government to prioritise road infrastructure to major tourism destinations in the region, saying poor road networks continue to limit accessibility and investment opportunities.
Meanwhile, Wyclef Rushaju, proprietor of Milele Lodge at Lake Bunyonyi, called for improved communication infrastructure in tourism areas, noting that reliable internet and telecommunications are critical for marketing tourism facilities and improving visitors’ experiences.
CUE IN BATUMA & RUSHAJU…..ON THE MATTER….RR//
Other residents, including Sam Arinaitwe, Aggrey Matsiko, and Ronald Asiimwe, echoed similar concerns, emphasizing the need for better roads, electricity, and communication services to boost tourism and expand the region’s contribution to the national economy.
They argued that improved infrastructure would attract more local and international tourists, create jobs, and stimulate economic growth across the Kigezi Sub-region.
CUE IN RESIDENTS…..ON TOURISM…..RR//
