BY AMB. FRANKLIN R. KATUNGWE
IN BRUSSELS—-
Moving Towards Middle-Income Status
Brussels, 12 June 2026
Introduction
Uganda’s FY 2026/2027 National Budget of approximately UGX 84.3
trillion seeks to accelerate wealth creation, economic transformation,
and sustainable growth as Uganda advances towards middle-income
status.
Economic Growth
Strong growth is expected through commercial agriculture,
industrialization, expanding services, digital transformation, and the
anticipated commencement of oil production.
Commercial Agriculture
Government continues to support irrigation, quality inputs, extension
services, value addition, and market access to transform agriculture
into a profitable enterprise.
Industrialization and Value Addition
The budget promotes manufacturing, agro-processing, industrial parks,
and value addition to increase productivity, jobs, and exports.
Oil, Gas and Mining
Strategic investment in oil production, refinery development, and
mineral resources is expected to boost revenue and foreign exchange
earnings.
Infrastructure Development
Continued investment in roads, energy, and transport infrastructure will
improve connectivity and lower the cost of doing business.
Digital Transformation
Investment in digital infrastructure and innovation will improve
efficiency, service delivery, and competitiveness.
Tourism and Investment
Government will continue promoting tourism and investment as key
drivers of foreign exchange and employment.
Human Capital Development
Education, healthcare, and social services remain essential pillars for
long-term economic transformation.
Role of Uganda’s Missions Abroad
Uganda’s Embassies and Missions abroad should strengthen
economic and commercial diplomacy, mobilize diaspora remittances
and investment, promote exports, tourism, and attract strategic
investments that contribute to national development.
Conclusion
The FY 2026/2027 Budget demonstrates Uganda’s determination to
build a modern, productive, and inclusive economy. Effective
implementation will be critical in achieving sustainable middle-income
status.
Amb. Franklin R. Katungwe
Deputy Head of Mission & Minister Plenipotentiary, Brussels.