Overview:
Minister of State for Finance, Planning and Economic Development Henry Musasizi said the changes are intended to accelerate implementation of the Tenfold Growth Strategy through the four sectors of the ATMS — agro-industrialisation, tourism development, minerals and oil and gas, and science, technology and innovation — alongside their enablers.
KAMPALA — Government has outlined seven strategic shifts that will guide the formulation of the 2027/28 national budget, with emphasis on domestic revenue mobilisation, private investment, job creation, exports and raising household incomes.
Presenting the FY2027/28 Budget Strategy on Thursday, Minister of State for Finance, Planning and Economic Development Henry Musasizi said the changes are intended to accelerate implementation of the Tenfold Growth Strategy through the four sectors of the ATMS — agro-industrialisation, tourism development, minerals and oil and gas, and science, technology and innovation — alongside their enablers.
The first shift is revenue-led fiscal consolidation, under which domestic revenue mobilisation will take centre stage in budget planning.
Government plans to broaden the tax base using data and technology, curb revenue leakages, improve compliance and increase non-tax revenue. The additional resources will be directed towards the ATMS, their enablers and essential public services.
The second shift is prudent management of oil revenues as Uganda moves closer to commercial oil production.
Mr Musasizi said the revenues will be managed transparently and sustainably in accordance with the Public Finance Management Act, Cap. 171.
The third shift is to mobilise more private capital for the ATMS in an effort to accelerate economic growth, create productive jobs and raise household incomes.
Government will explore innovative financing mechanisms, strengthen public-private partnerships, improve the business environment and attract more foreign direct investment.
The fourth shift is to accelerate implementation of the Tenfold Growth Strategy through better coordination among government institutions, stronger partnerships with the private sector and closer alignment between policies and implementation.
The fifth shift places jobs, exports and household incomes at the centre of the budget.
Mr Musasizi said faster economic growth must translate into structural transformation by making Uganda more export-oriented, creating productive employment and ensuring that growth remains fiscally sustainable.
The sixth shift focuses on strengthening wealth-creation programmes, including the Parish Development Model, Emyooga and the Presidential Skilling and Industrial Hubs.
“Government will strengthen the wealth creation programmes to increase production, employment and household incomes,” Mr Musasizi said.
The seventh shift is strengthening budget discipline, credibility and accountability through reforms targeting allocative efficiency, internal controls, audit systems, procurement and accountability for results.
The 2027/28 Budget Strategy therefore places revenue mobilisation, investment, production, employment, exports and household incomes at the centre of government’s fiscal policy.
The strategy is intended to ensure that public resources are directed towards programmes that support structural transformation and advance Uganda’s long-term economic growth ambitions.