Ministry of Finance

KEY MEASURES TO MANAGE PUBLIC DEBT: As we head into FY 2026/27, we shall be implementing the following key measures to effectively manage public debt which is currently moderately elevated. ✅️ Implementation of the Domestic Revenue Mobilization Strategy (DRMS) We are keen on minimizing tax evasion using the electronic fiscal receipting and invoicing solution (EFRIS). Revenue collection has nearly doubled in the last 5 years from Shs 17 trillion in FY 2019/20 to Shs 32 trillion in FY 2024/25. ✅️ Undertake policy actions to leverage concessional financing. Uganda now has access to this financing from the World Bank and IMF. ✅️Implement the Public Investment Financing Strategy (PIFS) to leverage non-debt financing. The Uganda Sovereign Sukuk in the offing is a case in point. ✅️Implement the Country's Credit Rating Strategy. We are already rated 'Positive' by S&P (B-),Stable by Fitch Ratings (B) & also Stable by Moody's (B3). ✅️Implement the 2026/27 Medium Term Debt Management Strategy (MTDMS) whose key objectives include minimizing the share of interest payments to domestic revenue in order to reduce debt service burden on the budget. #DebtManagement #TenfoldGrowth #DoingMore

DID YOU KNOW? 1️⃣ Sukuk according to the Accounting,Auditing Organisation of Islamic Financial Institutions is defined as "Investment securities of equal value representing undivided beneficial ownership of tangible assets,usufructs of tangible assets or services of special economic activities" 2️⃣ Sukuk is officially recognised by IMF,World Bank,IFC,UNDP and other multinationals as alternative project financing instruments. 3️⃣Sikuk is not a Bond. Whereas Sukuk are asset-linked instruments,Bonds are not linked with any asset. With Sukuk, there is presence of Investor-Issuer relationship while with Bonds,it's a lender-borrower relationship. 4️⃣ The Sukuk will increase financial inclusion to Ugandans who have no opportunity to invest in Treasury Bonds and Bills. 5️⃣Sukuk comes as lease-based,equity-based, agency-based and sale-based. They are therefore not debt instruments but rather Off-balance sheet financing. Therefore Sukuk financing will not be part of our debt numbers📌 We shall have a deeper engagement on these and more in the coming days. Stay tuned. #AlternativeFinancing #FinancingSGR #DoingMore

GOVERNMENT OF UGANDA TO ISSUE INAUGURAL SOVEREIGN SUKUK: The Government of Uganda is in advanced stages of issuing the inaugural Sovereign Sukuk to finance 15% of the total cost of Euro 2.7 billion required for the construction of the Standard Gauge Railway (SGR). Cabinet approved the SGR financing structure in January 2025 reflecting the proportion and amounts to be mobilized. 60% of the Euro 2.7 billion will come from Export Credit Agencies (ECAs),15% from Sukuk and the balance of 25% will come from Development Finance Institutions (DFIs). The Deputy Secretary to the Treasury (DST), Patrick Ocailap is currently leading Uganda's delegation on a Sukuk Roadshow in the East African Community, specifically in Kenya, Tanzania and Zanzibar, to interest Investors to participate in the inaugural sovereign Sukuk Issuance on a date that will officially be announced. The other members of the delegation include; the Yusra Sukuk-lead arranger, Stanbic Bank Group,the Book Runners, Bank of Uganda, Standard Gauge Railway team, NS Kigozi Advocate- Sukuk Legal Advisor, Salaam Bank Uganda Limited the Receiving Bank and other staff in the Debt Policy and Issuance Department of MoFPED. The DST,Ocailap said the aim of the roadshow is market sounding, pricing discovery and building investor relations to ensure success of the planned Sovereign Sukuk Issuance. @mofpedU will in the coming days share detailed information with Ugandans about this kind of innovative financing and the significance of the upcoming Sovereign Sukuk Issuance. @newvisionwire @DailyMonitor @ubctvuganda @nbstv @ntvuganda @UgandaMediaCent @GCICUganda

Ladies and gentlemen, H.E. Yoweri Tibuhaburwa Kaguta Museveni, President of the Republic of Uganda, 2026–2031. #M7SwearsIn2026

CONGRATULATIONS H.E THE PRESIDENT @KagutaMuseveni

CONGRATULATORY MESSAGE: On this day of Swearing-in and Inauguration of H.E President @KagutaMuseveni as the duly elected President of the Republic of Uganda (2026-2031),the @mofpedU family joins the rest of the country to heartly congratulate him upon this victory and historical milestone. #Swearingin #PresidentialInauguration #TenfoldGrowth

Ggoobi Appointed New EADB Board Chair as Regional Lender Announces $13m Fund for Youth and Women EADB has launched a $13 million fund to support youth and women-led businesses across East Africa, reinforcing its push for inclusive growth. The announcement coincided with the appointment of @rggoobi as chairperson of the @EADB_Official board, as the Bank posted a 51% increase in profitability. Read more 👉ceo.co.ug/ggoobi-elected…

Mothers are the architects of our intellect. Maama didn’t just teach me my first lesson—writing my name; she built the confidence I needed to solve problems they don't teach in books. To my first and favourite teacher, a great champion of education: Happy #MothersDay ✍️📚✨

OPPORTUNITIES FOR GRAIN COMMODITIES IN UGANDA: The PSST @rggoobi has said under the Tenfold Growth Strategy, Government targets to raise exports from 12% to 50% of GDP. He said this will partly be achieved by increasing the export value of agro-industrial products to US$20 billion, manufacturing’s share of exports from 16% to 20% and doubling composition of medium and high-tech products in manufactured exports from 21% to 50%. The PSST made the remarks this afternoon while meeting Private sector stakeholders to discuss off-take opportunities for grain commodities in Uganda. "As part of the effort to boost the knowledge content of the ATMS, there is need for processing of agriculture commodities into finished goods that meet global market standards," said Ggoobi. He said Government is working towards establishing a mechanism for adequate production and supply of raw materials to sustain manufacturing in the country. Dr.Ggoobi also noted that Government through the Parish Revolving Fund (PRF) has disbursed Shs 3.78 trillion as of April 2026 to 3.7 million beneficiaries who have invested the money in livestock production including goats, beef cattle, dairy cattle and sheep. The beneficiaries have also invested in maize production, cassava production which are primary raw commodities for manufacture of animal feed for livestock and fish. Government in partnership with the Grain Council of Uganda, Pearl Bank, Pride Bank and Housing Finance Bank have put in place a Shs.176 billion Large Scale Commercial Farmers Facility to provide subsidized loans to large scale commercial farmers to enhance production of maize, beans, sorghum and animal fodder.

@skaheru I have been extremely busy to keep up with these streets. But this longstanding argument has attracted my attention. Let me attempt a reply as follows:

PUBLIC PROCUREMENT IS A STRATEGIC TOOL FOR DELIVERING FAST GROWTH-GGOOBI The Permanent Secretary and Secretary to the Treasury, Dr. @rggoobi has said Uganda’s transformation goal under the NDP IV and the Tenfold Growth Strategy to grow our economy to USD 500 billion by 2040 will depend on how effectively public investments are executed. He said procurement is very central to this execution. The PSST made the remarks today while officiating at the PPDA Public Procurement Cadre Forum 2026 at Speke Resort Munyonyo. “Public procurement must therefore stop being viewed merely as a compliance process. It must become a strategic tool for delivering faster growth, better services, stronger local industries and value for money for Ugandans,” said Ggoobi, adding that procurement determines whether projects are delivered on time, within budget and to the required quality. The PSST however decried the persistent challenges including; lengthy procurement timelines, delayed projects, weak contract management, cost overruns, fragmented systems and corruption risks. He said these delays are costly to government, costly to taxpayers and costly to national development. He noted that Government is accelerating the rollout of e-Government procurement in Ministries,Departments & Agencies (MDAs) to improve transparency, efficiency, accountability & traceability, adding that the new reforms are now focused on reducing procurement lead times & unnecessary bureaucracy, standardising procurement processes, strengthening contract management and promoting local content. “We need a procurement system that is faster, cleaner, smarter and more professional. A system that delivers projects. A system that inspires public confidence. A system aligned to Uganda’s development agenda,” said the PSST. The Executive Director @PPDAUganda Canon Benson Turamye earlier in his remarks said effective and efficient public procurement can drive the national growth strategy, adding that there is need to transform public procurement in Uganda by focusing on practical implementable reforms. Turamye said 65% of the annual budget is spent through public procurement, adding that public procurement contributes about 15%-20% of GDP in Uganda.

DID YOU KNOW OUR KEY INFRASTRUCTURE PROJECTS & INVESTMENTS? #Enablers #TenfoldGrowth

SUPPLEMENTARY SCHEDULE NO.5 FOR FY 2025/26 APPROVED BY PARLIAMENT: Parliament has this afternoon approved Supplementary Expenditure Schedule No. 5 for FY 2025/26 amounting to Shs 1,105.16 billion. The Supplementary Expenditure under Schedule No. 5 was presented by the Minister of State for General Duties @henrymusasizi1 and will be financed as follows: i)   Budget Reallocation: Shs 40.21 billion ii)   Additional Non-Tax Revenue/Local revenue: Shs 6.25 billion. iii) Additional External Financing: Shs 72.9 billion. iv)  Reallocation efficiency in budget execution and cash management: Shs 985.8 billion.  The supplementary expenditure within 3% is Shs 519 billion while that above 3% is Shs 586.16 billion.       Out of this Supplementary budget, Shs 56.95 billion is for LCI, LCII and Women Council Committee elections countrywide as directed by Cabinet. Shs. 29.57 billion for AFCON 2027 preparatory activities, Shs 132.9 billion is for outstanding obligations under Uganda Police Force while Shs 72.9 billion is additional disbursement by the World Bank for Generating Growth Opportunities and Productivity for Women Enterprises (GROW) project. Shs 40.21 billion has been reallocated to cater for additional wage for recruitment of Health Workers under 19 Referral Hospitals. Shs 23.21 billion will cater for counterpart funding for wage to operationalise the newly constructed schools under UGIFT. Shs 107.52 billion is for wage,pension and gratuity shortfalls. Other Ministries,Departments and Agencies have also been catered for under this supplementary expenditure schedule. 📸Courtesy

STRONG & RESILIENT ECONOMY: Our economic fundamentals remain solid and our efforts to attract more investors is in high gear. #TenfoldGrowth #USD500BillionEconomy #DoingMore

Happy Labour Day 2026 #LabourDay #DoingMore

Happy International Labour Day! #LabourDay2026

10 YEAR TAX HOLIDAY GENERATES POSITIVE NET BENEFITS -STUDY A study has been concluded by @mofpedU to determine whether Uganda’s 10-year tax holiday generates sufficient economic returns using basic cost–benefit analysis and causal analysis. Many stakeholders have been wondering whether these incentives generate sufficient economic returns to justify their fiscal cost and whether incentives contribute to Uganda’s broader structural transformation agenda. The findings from the study show that at the aggregate level, the tax holiday generates positive net benefits. For every UGX 1 revenue forgone on a firm under qualifying sector, a benefit of UGX 2.49 in benefits was generated. Similarly, for every UGX 1 of cost on an exporter, UGX 1.85 in benefits was generated. Qualifying sectors generate larger benefits and increase employment than exporters, although exporters still contribute meaningfully. Manufacturing and export agriculture yields strong returns, while other sectors show weak or negligible impact. Tax holidays boost sales and investment in strategic sectors but fall short in improving exports or local supply links. They also drive firm growth but yield limited and short-lived tax revenue gains, creating fiscal trade-offs. The study concludes that tax incentives help firms, but Uganda needs better targeting to achieve growth and revenue goals. Details👇👇👇 finance.go.ug/sites/default/…

UGANDA HIGH COMMISSION IN LONDON ONE OF THE BEST IN ECD - GGOOBI: The PSST @rggoobi has commended the Uganda High Commissioner in United Kingdom (UK), Nimisha Madhvani and her team for working diligently to attract investors, explore markets for Uganda’s products and also attract tourists, adding that the Mission in London is among the best in implementing the Economic and Commercial Diplomacy (ECD) Strategy. Dr.Ggoobi made the remarks last week while meeting the staff of the Uganda Mission in UK at Uganda House, Trafalgar Square in London. “We need more tourists, more investors and markets for our exports,” said the PSST, adding that ECD deliverables must be smart and reported in form of outcomes,not merely paper accountability. He said @GovUganda is committed to continue supporting Missions Abroad to deliver on their mandate and contribute meaningfully to the building of the 500-billion-dollar-economy by 2040. ECD hinges on proactive, economically focused statecraft that positions Uganda’s prosperity at the heart of international relations. The mission of the ECD strategy is to position Uganda as a competitive destination for investment, trade and tourism. Ggoobi also tasked the Accounting Officer at the Mission, Steven Ssenabulya to ensure that Uganda House and the Residence of the High Commissioner are fully revamped and not merely renovated to improve the image of Uganda. The High Commissioner Madhvani, on her part thanked @GovUganda for all the support extended to the Mission,especially the financing for ECD which has enabled them to deliver on their mandate. The team at the High Commission requested the Management of Uganda Airlines to consider regular flights to London,adding that frequent flights will greatly promote trade, tourism and investment between Uganda and the United Kingdom.

MICROECONOMIC INDICATORS AND DEVELOPMENTS FOR MARCH,2026: The number of migrant workers captured by the Immigration Department reduced by 52% from 3,962 migrant workers in February 2026 to 1,897 migrant workers in March 2026. The reduction is largely attributed to the USA/Israel-Iran conflict in the Middle East. Formal employment returns, as captured under the PAYE Register, reduced by10.4% from 873,507 employees in February 2026 to 782,623 employees in March 2026. The Retirement Benefits Sector Assets Under Management increased by 21% from Ushs 25.4 trillion in FY2023/24 to Ushs 30.7 trillion in FY2024/25. Members’ benefits increased by 14.3% from Ushs 1.4 trillion in FY2023/24 to Ushs 1.6 trillion in FY2024/25. In addition, member accounts increased by 25% from 3.2 million in FY2023/24 to 4 million in FY2024/25. Air quality in Kampala improved, with particulate matter dropping by 8.07% from 32.2μg/m³ in February 2026 to 29.6μg/m³ in March 2026. The month of March 2026 generally experienced near-normal rainfall in most parts of the country. Malaria prevalence increased by 26.7% from 1.5 deaths per 1,000 persons in February 2026 to 1.9 deaths in March 2026. For more details👇👇 development.finance.go.ug/sites/default/…