Uganda's preliminary resource envelope for the 2025/26 financial year is projected at Shs 57.441 trillion, according to the Permanent Secretary to the Treasury (PSST) during a meeting with the Presidential Advisory Committee on the Budget (PACOB). The PSST outlined key changes in the budget, revealing a reduction in total discretionary resources by Shs 3.935 trillion, from Shs 28.182 trillion to Shs 24.247 trillion. The reduction is primarily due to a decline in borrowing from external sources, which decreased by Shs 1.364 trillion, from Shs 1.394 trillion to Shs 29.9 billion. In addition, external debt repayments increased by Shs 882.5 billion, rising from Shs 3.149 trillion to Shs 4.032 trillion, while net domestic borrowing fell by Shs 4.957 trillion, from Shs 8.968 trillion to Shs 4.011 trillion. "This resource envelope is designed to support the essential government interventions and activities necessary to achieve the annual targets for growing the economy ten-fold starting from FY 2025/26," said the PSST, stressing the importance of financing strategic economic priorities. The budget for the next fiscal year will be guided by the National Development Plan IV (NDP IV) strategic direction and the 10-fold growth strategy, which aims to increase Uganda's GDP from $50 billion to $500 billion by 2040. Additionally, the PSST highlighted that the 2025/26 budget will play a pivotal role in refocusing national resources towards accelerating the economy's growth, with a target of 8 per cent growth in the short term and double-digit growth over the medium term. While meeting the Presidential Advisory Committee on the Budget (PACOB) today at Postel building to discuss the Resource envelope, Financing and Tax measures for FY 2025/26,the PSST @rggoobi said the preliminary resource envelope for FY 2025/2026 is projected to amount to Shs... pic.twitter.com/nPCKyOe6ov — Ministry of Finance (@mofpedU) November 12, 2024 Attribution: Finance Ministry Subediting: M. S. Salama
