The minister of Finance, Matia Kasaija, has announced that the government will implement a tenfold growth strategy over the next 15 years, aiming to increase Uganda’s GDP from approximately $ 50 billion to $ 550 billion by 2040.
This statement was delivered on his behalf by the state minister for Planning, Amos Lugoloobi, during the opening of the 2nd Public Investment Management Conference at Makerere University.
The conference was themed “Overcoming Implementation Barriers in Public Investment Management to Achieve Fiscal Sustainability.”
Lugoloobi noted that the country’s debt levels have risen due to increased demands for accelerated infrastructure development and social expenditure, coupled with constrained revenue growth. He said the tax-to-GDP ratio has stagnated at approximately 13.5%, falling short of the target range of 16-18%.
The deputy vice chancellor in charge of Academic Affairs at Makerere University, Prof. Mukadasi Buyinza, emphasized the need to reskill public servants to enhance their capacity to manage government projects and programs effectively, ensuring taxpayers receive value for their money.
