Uganda 2026/27 Budget Brief

The theme of the budget for the financial year 2026/2027 is “Full Monetisation of Uganda’s Economy through Commercial Agriculture, Industrialisation, Expanding and Broadening Services, Digital Transformation and Market Access”.

The budget is consistent with the Fourth National Development Plan (NDP IV) for the period FY 2025/26 to FY 2029/30 as well as the Charter for Fiscal Responsibility, and satisfies the requirements of gender, equity responsiveness and balanced development.

The economy is projected to grow by 6.4%to Ushs 250.4 trillion (USD 69.3 billion) by the end of June 2026 and expected to expand by 10.2% to Ushs 290.315 trillion (USD 77 billion) by June 2027.

The robust growth outlook is expected to be primarily underpinned by the commencement of oil production, which is anticipated to generate substantial fiscal revenues and stimulate productivity through strong intersectoral linkages with agriculture and manufacturing. Growth will be further supported by sustained investments across the priority sectors identified under the Tenfold Growth Strategy, with the key drivers being:

1. Strengthening of good governance, security, and the developmental role of the state;
2. Commencement of oil production in 2026, expected to stimulate job creation and boost revenue generation, with positive spillover effects enhancing productivity across agriculture and manufacturing;
3. Prudent macroeconomic management to mitigate the destabilising effects of oil receipts on macroeconomic stability;
4. Coordinated oversight of mineral sector development and the management of mineral revenues;
5. Enhanced human capital development across the full life cycle; and
6. A well-supported private sector oriented towards driving growth and employment creation.
7. Development and maintenance of strategic, sustainable infrastructure spanning transport, housing, water, industrial facilities, and ICT;
8. Expansion of power generation and supply through diversification of the energy mix — incorporating renewable sources including solar, thermal, and hydropower — to increase electricity access and reduce the carbon footprint, thereby enabling the extension of both grid and off-grid connections to support productive activities and sustain economic growth; and
9. Maintenance of roads and bridges, rehabilitation of the Metre Gauge Railway (MGR), construction of the Standard Gauge Railway (SGR), and development of water transport infrastructure.

Please see the link below for our detailed highlights from the budget announcement.