The Minister of Finance, Planning and Economic Development, Henry Musasizi, has outlined an ambitious roadmap aimed at accelerating the country’s economic transformation and positioning Uganda for exponential growth.
Speaking during his maiden top management meeting at the Ministry of Finance, Planning and Economic Development, Minister Musasizi shared his vision with senior ministry officials, emphasizing a results-driven approach to economic management and development.
The minister said his tenure will focus on five key pillars designed to transition Uganda from incremental growth to a major economic take-off.
At the heart of the agenda is the government’s target of growing Uganda into a USD 500 billion economy. Musasizi pledged to aggressively implement the country’s tenfold growth strategy, describing it as a critical pathway toward achieving sustainable prosperity.
“We shall relentlessly execute the tenfold growth strategy to turn Uganda into a 500 billion-dollar economy,” he said.
Musasizi also committed to strengthening accountability and efficiency within government operations. He said the ministry will shift its culture from merely spending public funds to delivering measurable results through strict budget discipline, procurement reforms, and rigorous value-for-money audits on all public projects.
On revenue generation, the minister pledged to implement the Second Domestic Revenue Mobilization Strategy with the goal of increasing Uganda’s revenue-to-GDP ratio to at least 20 percent. He noted that higher domestic revenues would reduce dependence on external financing and strengthen economic resilience.
Minister further reaffirmed the government’s commitment to President Yoweri Museveni’s wealth creation agenda, saying the ministry will prioritize funding and monitoring programs aimed at commercializing smallholder farmers and integrating more Ugandans into the money economy.
“We shall ensure that every Ugandan participates in the money economy through effective support and tracking of commercialization efforts,” Musasizi said.
Regarding the country’s emerging oil sector, Musasizi emphasized the need for prudent management of future petroleum revenues.
He said Uganda would establish strong institutional safeguards to ensure oil earnings are invested in strategic infrastructure projects while avoiding overreliance on the sector.
“Our goal is for Uganda to become an oil-producing nation but never an oil-dependent economy,” he said.
The minister’s agenda comes at a time when Uganda is pursuing industrialization, infrastructure expansion, and preparations for first oil production, with government aiming to accelerate economic growth and improve household incomes across the country.
