The State Minister for Finance, Henry Musasizi, has projected stronger economic growth for Uganda, signaling optimism as the country prepares to begin oil production.
Appearing before the Parliament of Uganda Budget Committee, Musasizi said the economy is expected to grow by 7 percent in the 2025/2026 financial year, up from 6.3 percent in the current period.
He noted that the anticipated start of oil production later this year could further accelerate growth, potentially pushing it into double-digit territory.
Musasizi also revealed that Uganda’s economy is projected to expand to about $80.8 billion (approximately UGX 291.4 trillion) by the 2026/2027 financial year.
The projections highlight government expectations that oil revenues, alongside ongoing investments in infrastructure and key sectors, will play a major role in driving economic expansion.
Uganda’s economy is projected to grow to 7%, with oil production expected to boost growth further and expand the economy to over $80 billion by 2026/27.
