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Henry Musasizi highlighted the recovery of Uganda’s economy from the devastating impacts of the COVID-19 pandemic and its return to a stable growth trajectory
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By Our Reporter
The Government has announced a significant reduction in the 2025/26 National Budget to UGX 57.441 trillion, down from the current UGX 72 trillion, and assured the public that no new taxes will be introduced in the next financial year. Instead, revisions to existing tax laws will be prioritized. This announcement was made by the Minister of State for Finance, Henry Musasizi, while presenting the 2025/26 National Budget Framework Paper. He highlighted the recovery of Uganda’s economy from the devastating impacts of the COVID-19 pandemic and its return to a stable growth trajectory.
“Our preliminary resource envelope is UGX 57.441 trillion, and we shall raise this money through domestic and external sources,” Minister Musasizi stated. “I also wish to inform the House that in the next Financial Year, we don’t intend to introduce new taxes. We shall only do the Bills to clean up, but there shall not be any new tax introduced next financial year.”
Musasizi further emphasized Uganda’s economic recovery, driven by investments in key growth sectors, and noted that inflation has been successfully contained at 2.9%, below the 5% policy target.
“Uganda’s economy has fully recovered and is on the right growth path driven by investments in the tenfold economic growth areas. Currently, there is high business and investment optimism in Uganda,” he added.
The 2025/26 budget will prioritize critical economic fundamentals, including:
The framework paper sets the tone for Uganda's fiscal direction in the coming year, with a focus on sustaining economic growth and addressing key development priorities.
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