PM Nabbanja launches 2026/27 budget conference with focus on tenfold growth

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The government has officially launched the National Budget Conference for the Financial Year 2026/27, with Prime Minister Robinah Nabbanja declaring it the beginning of a decisive journey to transform Uganda into a $500 billion economy by 2040.

Addressing delegates at Speke Resort Munyonyo on September 11, 2025, the Prime Minister said the conference was not only the start of the consultative process for the next financial year’s budget, but also the first to align with the new National Resistance Movement (NRM) Manifesto (2026–2031) and the Charter for Fiscal Responsibility under the Public Finance Management Act.

“The budget for FY2026/27 is special,” Nabbanja emphasised, adding, “It sets the foundation for our new policy direction, implements the Tenfold Growth Strategy, and signals our unwavering determination to lift the remaining 33% of households still trapped in the subsistence economy.”

The bone marrow of the economy

The Prime Minister likened Uganda’s economic fundamentals to the “bone marrow” of the human body.

“When the bone marrow develops a disease such as leukaemia, survival becomes difficult,” she said. “In the same way, the bone marrow of an economy consists of affordable electricity, efficient railway and water transport, reasonable labour and capital costs, and, above all, peace and security.”

She cautioned that unless government prioritises investment in these sectors, investors will shy away. “No investor can be attracted to an economy to make losses,” she warned.

Nabbanja outlined government’s commitment to strengthening agro-industrialisation, tourism development, mineral-based industrial development, science, technology and innovation, ICT, and creative industries (ATMS), which she described as the backbone of Uganda’s next growth phase.

Ggoobi declares war on 'budget games'

Permanent secretary and Secretary to the Treasury, Ramathan Ggoobi, echoed the Prime Minister’s message with a strong warning against what he called “budget games”—manipulative practices by Ministries, Departments and Agencies (MDAs) that distort national planning.

“These games have undermined credibility, delayed projects, and eroded public trust,” Ggoobi said. “They will not be tolerated anymore.”

Among the 15 tricks he listed were the “padding play” (inflating requests beyond actual needs), the “crisis card” (exaggerating catastrophic outcomes if funds are not approved), the “silent windfall” (ignoring budget errors), and the “foot-in-the-door” ploy (starting with small requests that grow into large unfunded projects).

He pledged tighter scrutiny by budget analysts to stamp out these practices and directed MDAs to prioritise statutory obligations such as salaries, pensions, utilities, and core functions before submitting new requests.

“If we plan and budget like that, we will reduce supplementary requests, improve budget credibility, and ultimately enhance service delivery,” Ggoobi stressed.

Linking the budget to elections and transformation

The 2026/27 budget preparations come at a politically sensitive time, with Uganda set to hold general elections in January 2026.

Both Nabbanja and Ggoobi acknowledged the need to balance political priorities with long-term fiscal discipline.

For Nabbanja, the focus is clear: industrialisation, youth employment, expanded market access regionally and internationally, and moving every household into the money economy.

For Ggoobi, the caution is sharper: resist short-term populism disguised as urgent spending. “We must resist the temptation of budget gimmicks and instead commit to credible, transparent, and sustainable planning,” he said.

A call for budget inclusiveness

The conference, attended by Cabinet ministers, MPs, diplomats, civil society leaders, and private sector representatives, underscored the inclusiveness of the budget process.

Nabbanja urged all stakeholders—from local governments to development partners—to participate in the consultative process. “It is through consensus, efficiency, and coordination that we shall deliver Uganda into middle-income status,” she said.

She also highlighted the Uganda Revenue Authority’s (URA) role in expanding domestic revenue collection without stifling business, alongside government’s effort to rationalise expenditure and intensify the fight against corruption.

Setting the stage for FY2026/27

Tomorrow, the Ministry of Finance will issue the First Budget Call Circular, with indicative planning figures and detailed guidelines for Accounting Officers. This will be the first practical step in translating today’s discussions into a binding national budget framework.

“Our collective task is to ensure that the priorities of government are aligned with the needs of the people, and that we commit ourselves fully to lifting Ugandans into prosperity. This is the foundation upon which the future of our country rests,” Nabbanja said.