Uganda unveils Shs 84.39 trillion budget as government targets economic transformation and wealth creation

12 June 2026, 12:09 pm

By Ronald Ssemagonja

The Financial Year 2026/27 National Budget, under the theme, “Full Monetization of Uganda’s Economy Through Commercial Agriculture, Industrialization, Expanding and Branding Services, Digital Transformation and Market Access,” was presented yesterday at Kololo Ceremonial Grounds in Kampala.

According to the Minister of Finance, Planning and Economic Development, Hon. Henry Musasizi, Uganda’s budget for the Financial Year 2026/27 stands at Shs 84.39 trillion. The budget is aimed at accelerating economic transformation, creating wealth, and positioning Uganda among the fastest-growing economies in the region.

The event was attended by President Yoweri Museveni, the Vice President, the Prime Minister, Members of Parliament, and other invited guests.

“Rt. Hon. Speaker, allow me to begin by congratulating the President upon his victory in the recently concluded elections and for assuming the Chairmanship of the East African Community. Uganda enters this new political term from a position of strength. Unlike many previous election cycles that were characterised by high inflation and exchange rate instability, our economy remains stable, resilient, and is growing rapidly,” Musasizi said.

He added that the Financial Year 2026/27 marks the commencement of implementing the National Resistance Movement (NRM) manifesto for the new term.

“This financial year also marks the second year of implementing the Fourth National Development Plan (NDP IV), the first plan specifically designed to deliver our tenfold growth strategy. The size of the economy is projected to increase to approximately USD 69.3 billion, equivalent to Shs 250.4 trillion, by the end of June 2026. As of December 2025, Uganda’s total public debt stood at USD 34.86 billion, equivalent to Shs 126.19 trillion. In FY 2026/27, economic growth is projected to accelerate to 10.2 percent, while domestic revenue collections are projected at Shs 35.7 trillion,” he added.

The Ministry of Finance says the budget will be financed through domestic revenue collections, borrowing, and grants.

Meanwhile, President Yoweri Museveni urged politicians to focus on helping the remaining 33 percent of Ugandans join the money economy instead of engaging in what he described as cheap politics.

The President also emphasized that the government will intensify the fight against corruption during the new term. This comes amid concerns over continued loss of public funds through corruption, with reports indicating that Uganda loses approximately Shs 10 trillion annually.

Museveni further assured Ugandans that Ebola remains manageable if government guidelines and health advice are followed.

“Ebola is manageable,” the President said, while expressing confidence in the country’s response mechanisms.

Regarding some of the recently appointed ministers who have attracted public debate, Museveni defended his choices, saying their outspoken and sometimes controversial nature influenced his decision to appoint them.

“I know what people say about them. They are known to be outspoken, controversial and sometimes confrontational, but that is exactly why I appointed them,” he said.

The President also promised to address issues concerning trade, law and order, and the environment at a later date.

The Speaker of Parliament, Rt. Hon. Jacob Oulanyah Oboth-Oboth, thanked the President for fulfilling his constitutional mandate and adjourned Parliament until 30th June 2026.

Elsewhere, the Kampala Lord Mayor, Eng. Ronald Balimwezo Nsubuga, Deputy Lord Mayor Faridah Nakabugo, and the KCCA Minister for Works and Planning, Hon. Luyombya Godfrey, yesterday assured vendors at Owino Market that the city leadership remains committed to promoting, protecting, and improving markets within Kampala.

The leaders emphasized that no one will be allowed to sell market land, noting that such land belongs to the people and must be safeguarded for future generations.