Musasizi’s first budget, oil revenues and leap to middle income (opens original article in a new tab)

Uganda's Minister of Finance, Henry Musasizi, presented the 2026/2027 budget aiming to boost economic growth and transition to a middle-income country, with a focus on oil revenues, mineral value addition, and infrastructure development.

• Budget targets 6.4% economic growth and aims to increase GDP to 500 billion dollars by 2040.
• Oil production is expected to start in Q1 2027, with 1.44 trillion shillings in oil revenues.
• Priorities include mineral exploration, oil project development, and improving institutional efficiency and accountability.