The Minister of State for Finance, Henry Musasizi, has said climate change is increasingly straining national budgets across the world, calling for collective global action to develop practical and sustainable responses.
Musasizi made the remarks on Tuesday while opening the in-person Global Deputies’ Meeting of the Coalition of Finance Ministers for Climate Action at Speke Resort Munyonyo.
“Climate change is a global challenge that affects all nations regardless of their levels of emissions,” Musasizi said, adding that it demands “collective and decisive action to design and implement practical, evidence-based and sustainable solutions.”
He noted that many countries are experiencing more frequent and severe climate-related shocks, which are placing immense pressure on public finances and complicating budget execution.
Musasizi said finance ministers are increasingly confronted with the challenge of safeguarding national budgets while maintaining fiscal discipline, sustaining economic growth, and responding to climate-induced emergencies.
He added that Uganda has benefited from the coalition through peer learning, knowledge sharing and capacity building, which have contributed to improvements in budgeting processes, economic modelling and climate-responsive policy development.
Musasizi also welcomed Croatia as the incoming co-chair of the coalition alongside Uganda, taking over from the Netherlands.
