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 primarily drive the growth outlook.
According to the paper, the gross domestic product is projected to grow from Shs 251.45 trillion ($70.55 billion) in the 2025/2026 financial year to Shs 290.32 trillion in the 2026/2027 financial year.
The ministry said the policy direction for the 2026/2027 financial year and the medium term will focus on ongoing investments in priority sectors and key enablers of the government’s 10-fold growth strategy.
The strategy aims to grow the economy from 50 billion dollars to 500 billion dollars by 2040, anchoring on agro-industrialization, tourism, mineral development, and science and technology innovation.
