Uganda’s economy is projected to grow by 10.4 per cent by the end of the 2026/2027 financial year, a significant acceleration from an estimated 6.6 per cent in 2025/2026, driven largely by the start of oil production.
The outlook is contained in a five-year National Budget Framework Paper released on Wednesday, 17 December by the Ministry of Finance, Planning and Economic Development.
The paper forecasts gross domestic product to rise from 251.45 trillion Ugandan shillings in the 2025/2026 financial year to 290.32 trillion shillings in 2026/2027. Anchored on the theme of full monetisation of the economy, the policy direction prioritises commercial agriculture, industrialisation, expanded social services, digital transformation and improved market access.
Over the medium term, government investments will align with a 10-fold growth strategy aimed at expanding the economy from 50 billion dollars to 500 billion dollars by 2040, with agro-industrialisation, tourism, mineral development, and science and technology innovation positioned as the key growth pillars.