'Join this mission': Ggoobi rallies Ugandans in $500b-economy quest
"We are on a mission to change our destiny and it's in our hands," says the finance ministry PS.
Finance ministry permanent secretary Ramathan Ggoobi making his presentation during a post budget breakfast meeting at Kampala Serena Hotel on Friday (June 13). (Courtesy photos)
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When President Yoweri Museveni delivered his State of the Nation Address last week (June 5), he spelled out Uganda's ambitious quest to increase the size of the economy to $500 billion by 2040.
He said the government's strategy to achieve this is banking on four anchor sectors: agro-industrialization, tourism development, mineral development as well as science, technology & innovation.
A week later, a day after the sh72.3 trillion national budget for 2025/26 was unveiled at Kololo, finance ministry permanent secretary Ramathan Ggoobi weighed in on how Uganda's economy can hit that $500 billion mark.
He told a post-budget dialogue at Kampala Serena Hotel on Friday (June 13) that to get there, regulations and laws that govern different sectors must be enforced and adhered to.
Additionally, those without relevant skills should acquire them and also work as a team.
Ggoobi, who is also the Secretary to the Treasury, also identified environmental conservation and building relevant partnerships as ventures that will help Uganda realize its dream.
Participants Listen to Ggoobi during the post budget breakfast meeting at Kampala Serena Hotel.
"I would like to mobilize every Ugandan to join this mission. We are tired of being a poor country, we have the ability to change ourselves."
Ggoobi gave examples of government initiatives that will help the country achieve its ambitious target.
“The PDM [Parish Development Model] wealth creation programme is well funded and has been properly designed to ensure that the beneficiaries are properly identified and monitored,” he said.
While presenting the 2025/26 budget to Parliament, on behalf of President Museveni, finance minister Matia Kasaija said this time around, the PDM funds will be audited through annual performance reports to be filed by the parish chiefs.
He provided a breakdown of how most PDM beneficiaries have invested the money:
▪️ 45 percent in cash and food crops such as maize, cassava, onions, bananas and Irish potatoes
▪️ 36 percent in livestock such as piggery, goats, beef cattle, dairy cattle and sheep
▪️ 12 percent in poultry
▪️ six percent in other enterprises
Kasaija said these investments are changing the lives of Ugandans by boosting household incomes, enhancing food security and creating employment opportunities at local levels countrywide.