Government has pledged to support businesses investing in high-risk sectors by enabling them to access affordable loans through commercial banks. Dr Ramathan Ggoobi, the Permanent Secretary in thhe Ministry of Finance, made the assurance while appearing before the Public Accounts Committee (PAC). The committee, chaired by Mawogola South MP Goretti Namugga, was scrutinising issues raised…
Uganda’s public debt has risen sharply, largely driven by heavy spending in preparation for the country’s first oil production, the ministry of Finance has said. According to the Debt Sustainability Analysis Report for the 2024/25 financial year, total public debt increased from $25.59 billion in the 2023/24 financial year to $32.24 billion as of June…
The ministry of Finance has said Uganda’s economy has remained stable and has not experienced the inflationary spikes that have traditionally characterised past election cycles. Dr Ramathan Ggoobi, the Permanent Secretary and Secretary to the Treasury, attributed this stability to long-term economic reforms that have strengthened fiscal discipline, monetary policy, and macroeconomic management. Speaking on…
Uganda’s economy is forecast to expand by 10.4% by the end of the 2026/2027 financial year, up from an estimated 6.6% at the end of the 2025/2026 financial year. The Ministry of Finance, Planning, and Economic Development released a five-year National Budget Framework Paper last week, which indicates that the commencement of oil production will…
A comprehensive report from the Ministry of Finance, Planning and Economic Development has revealed significant challenges plaguing Uganda’s externally funded projects. Spanning sectors like agriculture, infrastructure, health, and education, the report highlights delays, funding shortfalls, and implementation constraints affecting critical development initiatives. The report details issues across numerous projects, including the Uganda Digital Acceleration Project,…
