The Ministry of Finance unveiled a budget of Shs 19.79 trillion for the last quarter of the financial year, with Shs 1.993 trillion allocated for government wages and salaries. This move is a testament to the government’s commitment to economic growth and development.

Key Highlights of the Budget
– GDP Growth: Uganda’s economy is on a strong upward trajectory, with a 6.7% growth rate in Q1 and 5.3% in Q2, surpassing last year’s rates of 5.6% and 5.8% respectively.
– Projected Growth: The country is poised to meet its 6.4% growth target, driven by advancements in:
– Manufacturing: Significant investments in the sector.
– Agriculture: Food crops and other agricultural products.
– Service Sectors: Trade and transport.
– Economic Expansion: Uganda’s economy grew 4.6% in 2023, with a projected growth of 6.0% in 2024 and 7.0% in 2025.
– Key Sectors: Industry and services are the top contributors to growth, with foreign direct investment reaching $2.3 billion in the first nine months of FY24.

The government’s focus on economic growth and development is reflected in its strategic plans, including:
– Parish Development Model (PDM): Aims to promote economic growth and development at the grassroots level.
– Investments in Infrastructure and Human Capital: Enhancing the country’s infrastructure and investing in human capital to drive economic growth.

Budget Breakdown
The total government expenditure for FY 2024/2025 is projected at Shs 72.136 trillion, with:
– Wages and Salaries: Shs 7.926 trillion.
– Non-Wage Recurrent Expenditure: Shs 17.454 trillion.
– Development Expenditure: Shs 6.152 trillion.
– External Project Financing: Shs 9.584 trillion. 

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