Uganda has unveiled an ambitious Shs 84.39 trillion national budget for the 2026/27 Financial Year, with government placing strong emphasis on wealth creation, job generation, industrialisation and preparations for commercial oil production.
Presenting the budget before Parliament at Kololo Ceremonial Grounds, Finance Minister Henry Musasizi said Uganda’s economy remains resilient and is projected to experience stronger growth driven by strategic investments and the expected start of commercial oil production later this year.
Musasizi revealed that Uganda’s Gross Domestic Product (GDP) is expected to rise to USD 69.3 billion, equivalent to Shs 250.4 trillion, by the end of June 2026, with economic growth projected to increase from 6.4 percent in the 2025/26 Financial Year to 10.2 percent in 2026/27.
“This will mark Uganda’s first return to double-digit growth since the reforms of the 1990s,” he said.
The Minister said the 2026/27 budget is aimed at accelerating government’s Tenfold Growth Strategy through the ATMS agenda, which prioritises Agro-industrialisation, Tourism Development, Mineral-Based Industrialisation, and Science, Technology and Innovation.
According to Musasizi, 95.6 percent of discretionary government resources have been directed towards these wealth-creating sectors to boost production, expand exports, create jobs and improve household incomes.
“The era of planning and debate is over; the era of implementation and results has begun,” he told Parliament.
The total budget resource envelope of Shs 84.39 trillion will be financed through domestic revenue collections, borrowing, debt refinancing and external development support. Government projects domestic revenue to increase significantly from Shs 35.7 trillion in the current financial year to Shs 45.6 trillion, representing 15.9 percent of GDP.
Agriculture emerged as one of the biggest beneficiaries, receiving Shs 2.26 trillion — the highest allocation ever to the agro-industrialisation sector. Government plans to invest in agricultural research, irrigation, extension services, post-harvest handling, agro-processing, market expansion and the commercialisation of innovations such as the anti-tick vaccine.
Musasizi said government has already invested nearly Shs 11 trillion in wealth creation programmes targeting households, youth, women, farmers and businesses. He noted that over Shs 4.4 trillion has been disbursed to all 10,589 parishes under the Parish Development Model (PDM), benefiting millions of Ugandans.
Science, Technology and Innovation, Information Communication Technology and creative industries have been allocated Shs 1.14 trillion to support industrial growth, digital transformation and youth employment.
Government plans to commercialise innovations such as Kiira Motors vehicles, expand vaccine and pharmaceutical production through Dei BioPharma, establish a Hi-Tech City and strengthen digital infrastructure and e-commerce.
Meanwhile, the tourism sector received Shs 567.32 billion to support global marketing of Uganda, tourism infrastructure development, wildlife conservation, hospitality training and health tourism.
The minerals, oil and gas sector was allocated Shs 473.51 billion to support mineral exploration, certification, establishment of buying centres, capitalisation of the Uganda National Mining Company and operationalisation of the East African Crude Oil Pipeline (EACOP).
In a move aimed at improving accountability and reducing wastage, government announced sweeping reforms including stricter budget discipline, procurement digitisation, stronger audits and accountability charters for accounting officers.
Government will also suspend state-funded public holiday celebrations, except for religious functions, to reduce unnecessary expenditure.
Musasizi reported strong growth in exports, which increased from USD 5.93 billion in 2022 to USD 18.04 billion by March 2026, with gold, coffee, cocoa, fish and manufactured goods among Uganda’s leading exports. Coffee alone earned the country USD 2.46 billion during the period.
The Minister also highlighted improvements in employment, noting that formal private sector jobs had risen by 245 percent over the last decade, growing from about 672,300 workers in FY 2016/17 to more than 2.3 million workers in FY 2024/25.
On public debt, Musasizi said Uganda’s debt remains sustainable despite standing at USD 34.86 billion as of December 2025, representing 53 percent of GDP, and continues to support investments in infrastructure and economic transformation.
Describing Uganda as a land of opportunity, the Finance Minister urged citizens to embrace government’s wealth creation agenda under the slogan “Kisanja Hakuna Kulala” as the country positions itself for accelerated economic growth.
“Our mission is clear: produce more, earn more, export more, and lift every household out of subsistence,” Musasizi said, dedicating the budget to Uganda’s wealth creators, especially the youth expected to drive the country toward becoming a USD 500 billion economy.
