(3 Minutes Read)
Permanent Secretary to the Treasury, Ramathan Ggoobi, has emphasised that achieving Uganda’s goal of becoming a USD 500 billion economy by 2040 will require discipline, proper execution, and consensus among stakeholders. Speaking at the Absa Post-Budget Dialogue, Ggoobi underscored the importance of aligning efforts with the national growth strategy centered on Agro-industrialisation, Tourism, Minerals, and Science & Technology (ATMS).
He warned against diverting from agreed priorities, calling it “indiscipline,” and highlighted the urgent need to invest in market-relevant skills as unemployment and labour underutilization remain high. Research shows 30% of graduates work outside their field, indicating a skills mismatch.
In the 2025/26 Budget, experts welcomed the Shs 1.4 trillion allocated to clear domestic arrears, calling it a liquidity boost for businesses. Measures like a 3-year tax exemption for startups with under Shs 500 million capital were also praised as efforts to encourage formalisation and business survival.
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Absa Bank and Uganda Manufacturers Association urged that budgetary policies translate into real impact—more jobs, business growth, and demand stimulation—while URA and financial institutions committed to supporting business resilience and economic transformation.
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