Uganda’s economy is projected to expand by 10.2 percent in the 2026/27 fiscal year, a significant acceleration from 6.4 percent in the current fiscal year, Finance Minister Henry Musasizi said on Thursday as he presented the national budget.
The strong growth outlook reflects expectations of improved performance across key sectors of the economy, as well as continued public investment and reforms aimed at boosting productivity and expanding economic activity.
If achieved, the projected expansion would mark one of Uganda’s fastest growth rates in recent years, underscoring rising optimism about medium-term economic prospects in East Africa’s third-largest economy.
The government’s forecast comes amid broader regional expectations of steady growth across Sub-Saharan Africa, even as global headwinds linked to geopolitical tensions and higher commodity prices weigh on the outlook.
Uganda’s growth trajectory is closely tied to developments in agriculture, services, infrastructure investment and emerging oil production projects, which are expected to contribute increasingly to output over the coming years.
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The finance minister presented the projection as part of the country’s budget statement, which outlines fiscal priorities and spending plans for the upcoming financial year.
Economists note that sustaining double-digit growth will depend on effective implementation of infrastructure projects, stable macroeconomic conditions and continued private-sector investment.
The outlook also aligns with broader African growth patterns, where several economies are expected to maintain relatively strong expansion rates compared with the global average, despite external shocks and tighter financial conditions.
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However, analysts caution that such high growth forecasts often depend on base effects, project execution timelines and commodity-related developments, particularly in resource-rich economies.
Uganda’s medium-term strategy continues to focus on infrastructure development, industrialisation and expanding revenue mobilisation to support long-term economic transformation.
If realised, the projected 10.2 percent expansion would position Uganda among the fastest-growing economies in the region, reinforcing investor interest in East Africa’s growth story.
