Uganda’s government has unveiled an ambitious budget plan for the financial year 2025/26, focusing on full monetization of the economy through commercial agriculture, industrialization, expanding and broadening services, digital transformation, and market access.

The budget plan, themed “Full Monetization of Uganda’s Economy,” aims to elevate Uganda’s economic growth to over 8% annually in the medium term, with a vision to expand the economy tenfold from US$53 billion to US$500 billion by 2040.

The government plans to allocate UGX7.934 trillion towards staff salaries, UGX12.1 trillion for non-wage expenditures, and UGX4.211 trillion for development projects critical to Ugandans.

The sector allocation includes Human Capital Development, covering education and health, which will receive the highest share of UGX9.394 trillion. Governance and Security will receive UGX7.634 trillion, and Integrated Transport Infrastructure will receive UGX6.354 trillion.

The economy is projected to grow by 6.4% at the end of FY 2024/25, increasing to at least 7% in FY 2025/26, and eventually reaching double digits with the onset of commercial oil and gas production.