IMF ranking proves strategic commitment

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OPINION

By Milly Babirye Babalanda

The International Monetary Fund (IMF) has yet again affirmed Uganda’s steady rise on the global economic stage. According to their April 2026 Regional Economic Outlook, the global economic watchdog ranked Uganda as the second fastest-growing economy in Sub-Saharan Africa, with a projected growth rate of 7.5% this year. This places us just below Ethiopia’s 9.2% and, most notably, ahead of our regional peers such as Rwanda, Kenya, and Tanzania, most of whom are bigger than us in terms of size, economy and population.

 A tribute to our president

Coming amid the current global economic challenges like the conflicts in Europe and the Middle East, this performance needs to be hailed. But what is even more important to note is that it is neither accidental nor incidental. It is the direct outcome of deliberate planning, disciplined execution and the enduring strategic vision of our dear President and Father of the Nation, Yoweri Museveni.

In the report, the IMF described Uganda’s growth as “hard-earned”, and rightly so. In October last year, Uganda had already been ranked the seventh fastest-growing economy globally, with growth projections of between 6.3 and 7% for the coming year. Today’s upward trajectory confirms a consistent pattern. This proves that Uganda is not merely growing, but doing so with resilience.

The solid foundations

At the heart of this performance are key growth drivers that reflect the President’s long-standing priorities. Investments in the oil and gas sector — particularly the Tilenga project and the East African Crude Oil Pipeline (EACOP) — are catalysing industrial expansion and positioning Uganda as a future energy hub. At the same time, continued infrastructure development is lowering the cost of doing business, while strengthening agriculture ensures that the majority of Ugandans remain active participants in the economy. Sectoral performance further highlights this balanced growth.

The services sector has expanded by 6.8%, industry by 4.9% and agriculture by 5.4%. This broad-based growth reflects the President’s emphasis on a diversified economy approach. Time and gain, the President has explained how he cured the country of the colonial conclave economy of the 3Cs and 3Ts of coffee, cotton and copper and tea, tobacco and tourism to diversify into sectors that were untapped by colonial economic myopia. This departure from over-reliance on specific sectors has helped the country to bravely venture into more sectors, hence enjoying the collective multiplier effect of the diverse sectors.

Inclusive wealth creation initiatives

Equally important to our positive growth fortunes have been the government’s wealth creation initiatives, such as the Parish Development Model (PDM) and Emyooga. Initiated by the President through a gradual experimental process, these initiatives are finally calibrated in terms of implementation. This explains why, especially in the last five years, they are translating macroeconomic gains into household-level transformation. These programmes reflect a deliberate shift towards inclusive growth that ensures that prosperity reaches the grassroots.

What is even more impressive is that this strategic direction is firmly anchored in Uganda’s long-term development frameworks, particularly the National Development Plan IV and Vision 2040. These blueprints lay out an ambitious but achievable path towards transforming Uganda into a higher middle-income country and expanding the economy tenfold to $500m by the next 14 years. What becomes clear is that the president knows exactly how to crystallise his strategic vision for the country into workable and understandable concepts to Ugandans.

For instance, during the recently concluded induction retreat for newly elected legislators at Kyankwanzi, the President outlined 11 strategic priorities to sustain this trajectory. Over the course of the weekend, he distilled them into three key pillars during his victory celebration in the Lango region, held in Lira town. Addressing his supporters, the President compressed the strategic development priorities as wealth creation, infrastructure improvement and the fight against corruption. These priorities are not only timely, but also practical — they speak directly to the structural issues that determine long-term growth.

Perhaps most compelling is the renewed commitment to scaling up the Parish Development Model. Over the next five years, PDM is expected to reach all households, further deepening financial inclusion and empowering citizens to participate in the money economy. Stories are already emerging of transformation — such as that of a farmer in Lira district who turned a modest sh1m PDM seed fund into a thriving livestock enterprise. These are not isolated successes; they are early indicators of what is possible when policy meets opportunity.

Everyone’s responsibility

However, sustaining this progress requires collective responsibility. Leaders at all levels must ensure transparency and accountability in the implementation of government programmes. Equally, beneficiaries must embrace a culture of repayment and reinvestment to enable these funds to revolve and benefit others. Growth must be nurtured, not taken for granted.

As the President rightly cautioned, the time for politicking is over. The elections are behind us; what lies ahead is the duty to deliver. Ugandans expect results, and rightly so. The focus must now shift to fulfilling the commitments outlined in the NRM manifesto and accelerating service delivery. Concerns about markets for increased production have also been addressed through deliberate regional integration efforts. Uganda’s active role in expanding the East African Community has opened up wider markets for goods and services.

The UPDF’s role in pacifying the region cannot be overlooked. This is why we owe great gratitude to our CDF, Gen. Muhoozi Kainerugaba, for his dedication to these pacification efforts through leading operations such as Suja, among others. And through sustained diplomacy, more neighbouring countries are joining this bloc, strengthening trade linkages and creating new opportunities for Ugandan producers.

Uganda’s growth story, therefore, is not just about numbers — it is about direction. It is about a country that has chosen a clear path and remained steadfast on it. The IMF ranking is not merely recognition; it is validation of a vision that has been consistently pursued.

As we move forward, the task before us is clear — to consolidate these gains, deepen inclusivity and ensure that every Ugandan feels the impact of this growth. With continued discipline, unity and commitment to the President’s strategic vision, Uganda is firmly on course to achieving its transformation agenda. The gains will surely be protected and multiplied.

The author is the Minister for the Presidency