Uganda’s Shs 72.3 trillion budget for FY25/26 read, as billionaire Shumuko picks NRM nomination forms

13 June 2025, 8:51 am

By Ronald Ssemagonja

As the Financial Year 2024/2025, is coming to the end, the minister of finance, planning and economic development, Hon. Matia Kasaija, has read to the country, the budget for Financial Year (FY) 2025/2026, which amounts to Uganda Shillings 72.3 trillion. The minister said the budget will be gotten from domestic revenue which is projected to contribute Shs 37.4 trillion, domestic borrowing Shs 11.4 trillion and external grants or loans are projected to contribute Shs 13.4 trillion.

“Government has invested over Shs 9 trillion in key wealth creation initiatives over the last 10 years. These include: Uganda Development Bank Shs 1.45 trillion, the Parish Development Mode Shs l 3.3 trillion by the end of FY 2024/25 Emyooga Shs 553 billion, the youth livelihood programme Shs 207.95 billion, Grow project Shs 824 billion, among others. The economy is expected to grow faster by at least 7. O percent next financial year 25/26 and double digits at the onset of oil and gas production,” Kasaija
said.

The Minister also stated that the size of the economy is projected to expand to Shs 254.2 trillion, equivalent to USD 66.1 trillion in financial year 25/26, which will translate into a higher GDP per capita of USD 1.324 next FY compared to 1263 GDP estimated for this FY ending 30th June 2025. “The inflation is under control for the FY ending May 2025. The stock of privilege sector credit grew to Shs 23.3 trillion in March 2025 from Shs 21.9 trillion in June 2024. This represents growth of Shs 6.4 percent. Although this is low, it is expected to increase as private sector activity and household demand continue to recover. Revenue collection is projected at Shs 31 9 trillion this FY ending June 2025.” he said.

Accordingly, the total expenditure out turn is estimated at Shs 51.53 trillion this FY, excluding Bank of Uganda securities a d domestic refinancing. The budget deficit is estimated at Shs 7.6 percent of GDP. In his address, the president of Uganda, Yoweri Museveni, has appealed to politicians not to spend much money as the country heads the general elections next year. He also urged voters not to vote such kinds of people who do that.

Meanwhile, billionaire Shumuko Makesh, of Shumuk Group of Companies has picked nomination forms to express interest in the post of Nakawa West Constituency member of Parliament on the NRM ticket. According to Shumuko, he has the ability to represent the people of Nakawa West, and he is optimistic that the electorate will consider him as the best candidate to represent them in the 12th Parliament. According to the electoral Commission chairperson of NRM Party, Dr. Tanga Odoi, the exercise which started on 2nd June 2025, will be ending this week. Tanga, reconfirms that the nomination fee of 3 million and 1 million is non-refundable.