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New finance minister to present biggest ever budget
“Ahead of the Budget speech reading today, we are pleased to share with you the background to the budget that will be presented by the Finance Minister Henry Musasizi,” the ministry said in a tweet on X.
Finance Minister Henry Musasizi. (File photo)
By: Ali Twaha, Journalist @New Vision
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Newly appointed Finance Minister, Henry Musasizi, will this Thursday afternoon step up to the podium at the Kololo Ceremonial Grounds to present the national budget for the 2026/27 financial year.
This will be his maiden budget speech since assuming the top finance job. The Ministry of Finance has finalised preparations for the sh84.4 trillion budget reading.
“Ahead of the Budget speech reading today, we are pleased to share with you the background to the budget that will be presented by the Finance Minister Henry Musasizi,” the ministry said in a tweet on X.
The budget presentation will be attended by selected government officials, diplomats, private sector representatives and members of the public. New Vision will carry full coverage of the speech and key highlights as they emerge.
The budget carries the theme: “Full Monetization of the Ugandan Economy through Commercial Agriculture, Industrialization, Expanding and Broadening Services, Digital Transformation and Market Access.”
For years, Matia Kasaija was the familiar figure associated with budget day. While in Parliament recently, Musasizi noted that the FY 2026/27 budget is the first to implement the NRM Manifesto for the period 2026/27 to 2030/31, alongside the second year of Uganda’s Fourth National Development Plan. That dual mandate, he has said, shapes the spending priorities he will lay out this afternoon.
The resource envelope for the coming financial year stands at sh84.391 trillion, up from sh72.376 trillion in FY 2025/26. It is the largest budget Uganda has ever produced, and it carries ambitious growth expectations to match.
“Financial year 2026/27 will see the country witness many milestones of significant and historic proportion. The first and foremost is the imminent confirmation in March, 2027 of Uganda’s graduation from the category of Least Developed Countries (LDC). This confirmation comes two generations after the country’s independence in 1962,” the finance ministry said.
GDP is projected to grow by 10.4% in FY 2026/27, increasing the size of Uganda's economy to approximately $80.8b. That would mark a significant step up from the 6.3% recorded in 2024/25.
The budget carries the theme: “Full Monetization of the Ugandan Economy through Commercial Agriculture, Industrialization, Expanding and Broadening Services, Digital Transformation and Market Access.”
For years, Matia Kasaija was the familiar figure associated with budget day. While in Parliament recently, Musasizi noted that the FY 2026/27 budget is the first to implement the NRM Manifesto for the period 2026/27 to 2030/31, alongside the second year of Uganda’s Fourth National Development Plan. That dual mandate, he has said, shapes the spending priorities he will lay out this afternoon.
The resource envelope for the coming financial year stands at sh84.391 trillion, up from sh72.376 trillion in FY 2025/26. It is the largest budget Uganda has ever produced, and it carries ambitious growth expectations to match.
“Financial year 2026/27 will see the country witness many milestones of significant and historic proportion. The first and foremost is the imminent confirmation in March, 2027 of Uganda’s graduation from the category of Least Developed Countries (LDC). This confirmation comes two generations after the country’s independence in 1962,” the finance ministry said.
GDP is projected to grow by 10.4% in FY 2026/27, increasing the size of Uganda's economy to approximately $80.8b. That would mark a significant step up from the 6.3% recorded in 2024/25.
For the first time in Uganda's history, the government is expecting direct revenue from oil production, with the budget framework paper projecting sh1.44 trillion in oil and gas revenues during the coming financial year.
Ugandans will shoulder 52.8% of the budget, with domestic revenue targets set at sh44.5 trillion. The Uganda Revenue Authority will be expected to collect an additional sh7.3 trillion beyond the current sh37.2 trillion.
Ugandans will shoulder 52.8% of the budget, with domestic revenue targets set at sh44.5 trillion. The Uganda Revenue Authority will be expected to collect an additional sh7.3 trillion beyond the current sh37.2 trillion.