Matia Kasaija

Minister of Finance,Planning & Economic Development, Republic of Uganda.Member of Parliament, Buyanja County,Kibaale District

[Yoweri K Museveni @KagutaMuseveni]

Maama Janet and I gladly addressed a rally in Nebbi. I recall In 1961, I was at Ntare School, and there were many boys from West Nile. They came to Ntare School because there was not a single A’Level school in the entire Northern and Eastern Uganda. There were only six A’Level schools in Uganda. So, when I see eight A’Level schools in Nebbi alone, as a district in West Nile, I am very happy because I know where we came from and where we are heading.

In terms of health, there are sixteen sub-counties, and ten of them have health centres in Nebbi; only six do not. We are committed to ensuring that the remaining six also receive facilities.

On electricity, I am glad that finally West Nile is linked to the national grid all the way to Koboko.

I, therefore, ask the people of Nebbi to vote for the NRM to enable us continue with our path to achieving a High Income middle status.

[Yoweri K Museveni @KagutaMuseveni]

I would like to thank to the people of Zombo for their warm welcome.

For the first time in a long time, there is peace in the whole of Uganda, largely due to the principles of the NRM. A key factor in this peace is our ideology of rejecting sectarianism based on religion or tribes.
I pose a question: If you support sectarianism based on tribes or religion, how can you effectively build a national army? The peace we enjoy in Uganda is a result of our unity and the strength of a united national army.

The people of Zombo also raised important issues, including the need for a district hospital and improvements to their roads. We will work to address these concerns.

[Ministry of Finance @mofpedU]

Happy 63rd Independence Day Uganda.

@mofpedU remains committed to building a competitive economy for national development.
#UgandaAt63
#TenfoldGrowth
#DoingMore

[Ministry of Finance @mofpedU]

STATUS OF PUBLIC DEBT:
Finance Minister @MatiaK5 has said Uganda’s public debt remains sustainable over the medium term.

He noted that by the end of June 2025, the total stock of public debt was USD 32.33 billion (Shs. 116.21 trillion), up from USD 25.63 billion (Shs. 94.72 trillion) as at the end of June 2024. Of this, he said domestic debt was USD16.8 billion (Shs. 60.34 trillion) and external debt was USD 15.54 billion (Shs. 55.88 trillion). This translates into a debt-to-GDP ratio of 51.3%, remaining within sustainable thresholds in the short to medium term.

The Minister said the increase in public debt reflects higher external disbursements and expanded domestic borrowing to finance major infrastructure projects.

The share of domestic debt as a percentage of the total debt stock rose to 51.9% as at the end of June 2025, from 42.9% the previous year, which was within the approved medium-term debt strategy and annual borrowing plan.

[Yoweri K Museveni @KagutaMuseveni]

I was pleased to commission the $23.8 million Aga Khan University in Nakawa and to break ground for the Aga Khan Teaching Hospital! I would like to thank His Highness the Aga Khan and the Aga Khan Development Agency for their invaluable investments in Uganda across all sectors of our economy.

In this joint venture, the government provided the land and we remain committed to enacting strong legislation that protects investors and helps create a robust private sector that boosts economic growth.

[Ministry of Finance @mofpedU]

Finance Minister @MatiaK5
now presenting the Budget Strategy for FY 2026/27.

He says this Budget Strategy comes at a time when the country has already made significant gains in its socioeconomic transformation journey.

@MatiaK5 said Uganda has fulfilled the requirements to graduate from the category of Least Developed Countries to the category of lower-middle income status and has also attained sustained peace and macroeconomic stability, establishing a strong base for a competitive economy with significant investment in infrastructure and institutions.

Kasaija noted that Uganda has diversified its exports from the traditional 3Cs (Coffee, Cotton and Copper) and 3Ts (Tea, Tourism and Tobacco) and also made significant progress in opening up regional & continental markets.

He said the country has now built goal consensus on growing the economy tenfold to attain upper-middle income status before 2040.

[Ministry of Finance @mofpedU]

FINANCING STRATEGY FY 2026/27:
 Finance Minister @MatiaK5 says the Tenfold Growth Strategy will require mobilising significant resources.

He said this will include:
(i) Reprioritisation of resources in the current fiscal framework or repurposing to increase allocative efficiency.

(ii) Implementing strategies to boost domestic revenue mobilisation

(iii) Increasing Foreign Direct Investment (FDI) by maintaining sound fiscal and monetary policies to ensure macroeconomic stability and improve the country’s credit ratings, infrastructure development, reducing the cost of doing business, improving governance of government institutions, and the corporate sector.

(iv) Improving efficiency for the timely delivery of Public Private Partnership (PPP) projects.

(v) Intensifying access to non-traditional innovative financing options.

(vi) Leveraging affordable and sustainable financing through adequate capitalisation of UDB, Uganda Development Corporation (UDC), ACF, SBRF, and Emyooga, which attracts private capital and commercial bank financing in partnership with Government.

[Ministry of Finance @mofpedU]

UGANDA SIGNS COOPERATION AGREEMENT WITH ALGERIA:

Finance Minister Matia Kasaija who is currently in Algeria has on behalf of the Government of Uganda signed a cooperation agreement with the Finance Minister of Algeria, Abdelkarim Bouzred.

The agreement aims at supporting the implementation of projects in Uganda through the Algerian International Cooperation for Solidarity and Development Agency.

The first project under this framework will be the expansion and rehabilitation of Katakwi General hospital with a grant of USD13.7million (approximately UGX 50 billion)

Finance Minister Matia Kasaija said the signing of this agreement is another milestone in the ever-growing friendship and solidarity between the two nations.

“This project will significantly transform health care delivery for Katakwi and the neighboring districts benefiting over half a million people, not only for today, but for generations to come.” said Kasaija.

He said the project will ease access to specialized care and also reduce financial and social burden by minimizing long travel distances and associated expenses for accommodation, food, and transport for families.

Kasaija said this project will decongest regional referral hospitals and also strengthen the health system and human resource development. He requested for the second phase of the project to consider construction of additional modern wards, provision of advanced medical equipment and training of health workers.

The Algerian Finance Minister applauded the bilateral relations between the two countries and pledged on behalf of the Government of the People’s Democratic Republic of Algeria to fully support the implementation of this cooperation agreement.
@newvisionwire @DailyMonitor @UgandaMediaCent @GCICUganda @ubctvuganda @nbstv @ntvuganda

[NBS Television @nbstv]

Finance Minister @MatiaK5: There are hundreds of opportunities in Uganda. Really without exaggeration; Uganda today and now; “Ki Uganda Kinyuma”.

#NBSLiveAt9 #NBSUpdates

[NBS Television @nbstv]

Uganda’s Tenfold Growth Strategy is one of the most ambitious economic blueprints yet.

Tonight on #NBSLiveAt9, Finance Minister @MatiaK5 exclusively unpacks the plans, progress made, and more

Don’t miss!

#NBSUpdates

[Ministry of Finance @mofpedU]

PARISH DEVELOPMENT MODEL (PDM) IMPLEMENTATION:
The overall disbursement currently stands at Shs 3.098 trillion out a total release of Shs 3.231 trillion to 3.137 million beneficiaries across the country.
#WealthCreation
📸Courtesy

[Ministry of Finance @mofpedU]

UGANDA’S ECONOMY - THE 8 KEY NUMBERS:

➡️1.  Growth: 6.3% in FY 2024/25; Projection is 7.0% in FY 2025/26 and in medium term. Size of economy: USD 61.3 billion.

➡️2.  Inflation: 3.8%. Expected to remain within the 5% target in FY2025/26. This is Africa’s 2nd lowest inflation rate in a decade.

➡️3. Currency: Appreciated by 3.2%. The Uganda shilling is the most stable currency in Africa in the past decade.

➡️4. Central Bank Rate:9.75%. Maintained to keep macroeconomy stable.

➡️5. Exports: USD 10.6 billion & growing; Balance of Payments (BoP) surplus of USD1 billion.

 ➡️6. FDI inflows: USD 3.7 billion in FY 2024/25; projected to grow.

➡️7. Tourism receipts: USD 1.5 billion; projected to grow.

➡️8. Remittances: USD 1.4 billion, projected to grow.
#UgandaEconomy
#DoingMore

[Pam @PamAtuheirek]

Finance Minister @MatiaK5: Africa’s potential is unmatched. With five of the world’s ten fastest-growing economies, the continent is set to outpace many regions in global growth.
#UDFSummit2025

[NBS Television @nbstv]

Finance Minister @MatiaK5: The government’s focus remains on expanding the GDP from nearly USD 50 billion in 2023 to USD 500 billion by 2040.

#UDFSummit2025 #NBSUpdates

[Ministry of Finance @mofpedU]

QUOTE
"The stability Ugandans enjoy under the leadership of H.E. the President remains our most valuable economic asset. Our task is to turn that stability into money in people’s pockets, through discipline, hard work, and an economy that rewards enterprise. Government will keep the macro house in order and lay the foundations, but it is the private sector that must drive sustainable growth, create jobs, and expand exports. And let me assure you, Government will fully support the private sector to play this role," said Finance Minister @MatiaK5 while opening the 9th Economic Growth Forum at @kampalaserena
#9EGF2025

[Matia Kasaija @MatiaK5]

We are determined to build a 500 billion dollar economy in the next 15 years. The good proposals from this forum will be incorporated into the budget strategy for FY 2026/27.

[Ministry of Finance @mofpedU]

Finance Minister @MatiaK5 while officially opening 9th EGF said the conversation is happening at a time of unprecedented global change, marked by shifting geopolitics, tighter financial conditions, evolving trade patterns, and the growing impact of climate change.

He said the above forces are reshaping economies everywhere, not only in Uganda, but across the whole world.

Kasaija said despite the challenges faced by Uganda such as infrastructure deficits, low productivity in key sectors,youth unemployment and climate related vulnerabilities,the country must be practical, disciplined, and forward-looking.

"With peace and stability as our foundation, and by working hard and staying focused, the challenges before us can be turned into opportunities for Uganda’s growth strategy," said the Finance Minister,adding that Uganda's direction is to clear: to monetise the economy, create wealth and jobs, and push our tenfold growth strategy towards 500 billion dollars by 2040.

Kasaija also said Uganda’s economy has shown resilience,adding that last year,the economy grew by 6.3%, above regional and global averages, with low inflation.
#9EGF2025

[Matia Kasaija @MatiaK5]

We shall continue building a competitive economy for national development.
#TenfoldGrowth

[Ministry of Finance @mofpedU]

PRESS BRIEFING:
Finance Minister @MatiaK5 today briefed the Country on the State of the Economy at @UgandaMediaCent

Here are the 15 highlights of his Press briefing:

��️In FY 2024/25, the size of the economy expanded to Shs 226.3 trillion (US Dollar 61.3 billion) from Shs 203.7 trillion (US Dollar 53.9 billion) in FY 2023/24.

➡️GDP per capita also increased from US Dollar 1,159 in FY2023/24 to US Dollar 1,263 in FY2024/25.

➡️In real terms, GDP grew by 6.3 percent compared to 6.1 percent in the previous Financial Year.

➡️As of July 2025, Uganda’s economy was characterized by stable inflation, increased private sector activity, a stronger and stable shilling, and prudent fiscal and monetary management.

➡️Inflation has been well-managed, with headline inflation easing to 3.8% in July 2025 from 3.9% in June 2025.

➡️To maintain inflation within the medium-term target of 5 percent, the Central Bank Rate (CBR) was maintained at 9.75 percent for the tenth consecutive month in July 2025.

➡️Economic indicators point to a vibrant economy with growing activity and positive business sentiments.

➡️Uganda’s currency continues to be competitive against the US Dollar. The Shilling appreciated by 0.5 percent in July 2025. The Shilling has been ranked the most stable currency in Africa by the International Financial Statistics Division of the International Monetary Fund (IMF).

➡️Over the last fifteen years, thirty-two (32) new export products have emerged comprising majorly manufactured goods.

➡️The proportion of people living below the poverty line reduced from 20.3 percent in FY 2019/20 to 16.1 percent in FY 2023/24.

➡️Foreign Direct Investment(FDI) amounted to US Dollar 3.30 billion in 2024 from US Dollar 2.99 billion in 2023, largely hinged on the developments in the oil & gas sector.

➡️Life expectancy of Ugandans has increased from 63.7 years to 68.9 years (UBOS).

➡️In the last twelve months ending June 2025, merchandise exports surged by 64.3 percent to US Dollar 1.15 billion from US Dollar 702.5 million in June 2024, due to higher receipts from export items such as coffee, mineral products, tea, fish and flowers, among others.

➡️Tourism inflows grew to US Dollar 1.52 billion in 12 months to March 2025, from US Dollar 1.36 billion during the same period in 2024.

➡️The economy is projected to grow faster by at least 7.0 percent in this current Financial Year 2025/26, and to double digits in the medium-term following commencement of oil and gas production.
#StateOfTheEconomy
#DoingMore

[Ministry of Finance @mofpedU]

STATE OF THE ECONOMY:
Finance Minister @MatiaK5 will shortly be at @UgandaMediaCent to inform the Country on the State of the Economy.
#DoingMore

[Yoweri K Museveni @KagutaMuseveni]

Today at Nakasero, I met a team of American researchers who are collaborating with us to develop innovative treatments for cancer and diabetes derived from our plants. I welcome them.

[VAAL Uganda @VAALUganda]

Colleagues, the money has come.

Yesterday, we were honored to be celebrated by the presence of the Ministry of Finance - reflected by the attendance of two of their top leaders, the State Minister of Finance for Investment and Privatization Hon Anite Evelyn and the Minister of Finance, Hon. Matia Kasaija.

@Anite__Evelyn @MatiaK5

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