Henry Musasizi, the Minister of State for FinanceThe Ministry of Finance has revealed that in the coming 2026/27 national budget, Uganda’s economic growth strategy will focus on the reduction of poverty, creating more jobs and enhancing the management of minerals.The details are contained in the National Budget Framework Paper FY 2026/27 to FY 2030/31 tabled before Parliament on 16th December 2025 by the Minister of State for Finance, Henry Musasizi with detailed breakdown of how the next budget’s resources will be raised and spent. He further indicated the macroeconomic objectives that will guide the FY 2026/27 budget.“Reducing poverty from the current 16.1% to 14% by FY 2029/30; Attaining double-digit growth to facilitate doubling the country’s GDP by FY 2029/30; Maintaining price stability and keeping core inflation within the target of 5 percent; Enhancing management of the minerals to enhance economic diversification and expand the revenue base; Fast-tracking full monetisation of the economy and accelerating economic inclusion,” the document reads regarding the macroeconomic objectives behind the 2026/27 budget.The Minister further indicated that the Government strategy will involve achieving an average of 884,962 stock of new jobs annually over the NDP IV period, as well as maintaining a prudent fiscal stance to safeguard macroeconomic stability, in line with regional monetary union convergence requirements and domestic fiscal rules.“This includes keeping the debt-to-GDP ratio below 50 percent in present-value terms and steadily lowering the fiscal deficit to 3 percent by FY 2029/30; and Aggressively implementing strategies to increase the revenue-to GDP ratio to the target of about 20 percent over the NDP IV period,” he noted.The preliminary projected Resource Envelope for FY 2026/27 amounts to UGX69.399Trn which has reduced by UGX2.977Trn from UGX72.376Trn of the current FY 2025/26, a budget that will be financed using both our domestic and external resources.The Ministry of Finance further revealed that the strategic policy direction for FY 2026/2027 and the medium term is centred on driving socioeconomic transformation as a base for building a self-sustaining national economy and thus, the next national budget will be guided by the aspiration to expand the size of the economy tenfold before 2040, starting by doubling GDP every five years, which means that the size of the economy will grow from the current GDP of US$69Bn to US$500Bn by 2040.Government cited a number of policy measures to be undertaken in order to attain the desired growth including the need for all public institutions to improve budget allocative efficiency.The Ministry of Finance also called for an improvement in the efficiency and functionality of Government, with Minister Musasizi noting that in order to make Government more efficient, several reforms have been implemented, which include the rationalisation of Government (RAPEX), phased implementation of the pay reform including enhancement of arts teachers and other public officers, investment in digitisation of services, and focusing planning and implementation on results through the programmatic approach to planning, budgeting and implementation.The next reform proposed is the completion of unfinished business including to which the document noted, “Stamping out budget games that breed corruption; Closing leakages in routine expenditures such as transfers to schools, health centres and the payroll; Improving liquidity (cash) management and sovereign credit ratings; Diversifying sources of development finance, including tapping into innovative financing; Strengthening internal controls and the audit function to eliminate corruption; Completing public procurement reforms; Improving the management and maintenance of public assets and increasing domestic revenue mobilisation.”The post Uganda Prioritizes Poverty Reduction In 2026/27 National Budget As Govt Targets Double-Digit Growth By 2031 appeared first on Business Focus.