KAMPALA, June 12 (Xinhua) -- Uganda has projected a seven percent economic growth for the 2025/26 financial year, with expectations of reaching double-digit growth when the country begins oil and gas production.
Finance Minister Matia Kasaija told Parliament on Thursday that the Ugandan economy has strengthened its resilience to both domestic and external shocks.
While presenting the national budget estimates for the 2025/26 financial year, which begins on July 1, Kasaija noted that the Ugandan economy is projected to grow to 66.1 billion U.S. dollars.
"This will translate into a higher GDP per capita of 1,324 dollars next financial year, compared to 1,263 dollars estimated for this financial year ending June 30," he said.
Kasaija noted that the economy is expected to grow by 6.3 percent in the current 2024/25 financial year, following a robust 8.6 percent growth recorded in the third quarter. In the previous fiscal year (2023/24), the economy expanded by 6.1 percent.
Kasaija said the growth has been broad-based, driven by strong performance in agriculture, industry, and services such as information and communications technology.
He attributed this progress to ongoing government interventions and the implementation of sound fiscal and monetary policies that have supported investment in the private sector. ■
