Finance Ministry finalises Shs84 trillion Budget ahead of Thursday reading

The Permanent Secretary and Secretary to the Treasury (PSST), Dr Ramathan Ggoobi, and senior officials from the Ministry of Finance on Tuesday spent Heroes Day putting the final touches on Uganda’s Shs84.39 trillion national budget for the 2026/27 financial year, ahead of its presentation to Parliament on Thursday.

The budget speech will be delivered by Finance Minister Henry Musasizi at the Kololo Ceremonial Grounds, marking the official start of implementation of what government describes as a people-centred spending plan aimed at accelerating wealth creation and socio-economic transformation.

The 2026/27 budget, which has already been approved by Parliament, is the largest in Uganda’s history. At Shs84.39 trillion (approximately $22.65 billion), it represents a 16 percent increase from the previous financial year’s expenditure framework.

According to the Ministry of Finance, the budget is aligned to the implementation of the Fourth National Development Plan (NDP IV), which seeks to drive economic growth through industrialisation, agro-industrialisation, human capital development and strategic infrastructure investments.

In a statement issued on Tuesday, Dr Ggoobi said the ministry’s technical team used the Heroes Day holiday to complete preparations for the budget reading.

The Treasury chief described the spending plan as a “people’s budget” designed to support households, businesses and communities to generate wealth while advancing the country’s broader development agenda.

“We assure Ugandans that this is a people’s budget specifically designed to support wealth creation and accelerate socio-economic transformation,” he said.

A significant portion of the financing will come from domestic revenue collections.

The Uganda Revenue Authority (URA) has been tasked with collecting Shs44.5 trillion during the 2026/27 financial year, representing an increase of about Shs7.3 trillion compared to the current fiscal year.

The ambitious revenue target comes amid ongoing government efforts to widen the tax base, improve compliance and enhance efficiency in tax administration.

The balance of the budget will be financed through a combination of domestic borrowing, grants and external financing.

Government officials say the increased expenditure is intended to sustain investments in key sectors, including infrastructure, education, health, agriculture, security and industrial development.

The budget is also expected to provide resources for programmes aimed at increasing household incomes and supporting private sector growth.

Thursday’s budget presentation will provide detailed expenditure allocations and outline government’s fiscal priorities for the year beginning July 1, 2026.