Uganda’s economy has continued to expand despite global and domestic shocks, Finance Minister Matia Kasaija has said. Speaking at a press briefing on Tuesday, Kasaija highlighted that the country’s GDP rose to Shs 226.3 trillion (61.3 billion dollars ) in 2024/25, compared to Shs 203.7 trillion (53.9 billion dollars) the previous year.
“This growth was observed across all sectors, including agriculture, industry, and services such as ICT,” Kasaija said.
He attributed the resilience to government initiatives like the Parish Development Model, the Uganda Development Programme, and the Small Business Recovery Fund, which have supported economic activity and created new opportunities for citizens.
Despite regional instability and global financial pressures, Uganda has maintained stable inflation, with the headline rate easing to 3.8% in July 2025, down from 3.9% in June.
Kasaija said the central bank’s consistent policy rate of 9.75% has been crucial in supporting economic growth and maintaining investor confidence.
He noted that the private sector remains robust, pointing to rising business activity and employment across sectors.
“Investor confidence is strong, driven by increasing business orders and favorable demand for goods and services,” he said.
Kasaija also highlighted that Uganda’s currency, the shilling, continues to perform well, appreciating 0.5% against the US dollar in July 2025, supported by remittances, foreign investment, and corporate earnings.
He concluded by urging citizens to recognise the positive trajectory. “The economy is moving. Ugandans should engage responsibly, invest in themselves, and take advantage of the opportunities available,” he said.
