Finance Minister @MatiaK5 while officially opening 9th EGF said the conversation is happening at a time of unprecedented global change, marked by shifting geopolitics, tighter financial conditions, evolving trade patterns, and the growing impact of climate change. He said the above forces are reshaping economies everywhere, not only in Uganda, but across the whole world. Kasaija said despite the challenges faced by Uganda such as infrastructure deficits, low productivity in key sectors,youth unemployment and climate related vulnerabilities,the country must be practical, disciplined, and forward-looking. "With peace and stability as our foundation, and by working hard and staying focused, the challenges before us can be turned into opportunities for Uganda’s growth strategy," said the Finance Minister,adding that Uganda's direction is to clear: to monetise the economy, create wealth and jobs, and push our tenfold growth strategy towards 500 billion dollars by 2040. Kasaija also said Uganda’s economy has shown resilience,adding that last year,the economy grew by 6.3%, above regional and global averages, with low inflation. #9EGF2025

PRESS BRIEFING: Finance Minister @MatiaK5 today briefed the Country on the State of the Economy at @UgandaMediaCent Here are the 15 highlights of his Press briefing: ➡️In FY 2024/25, the size of the economy expanded to Shs 226.3 trillion (US Dollar 61.3 billion) from Shs 203.7 trillion (US Dollar 53.9 billion) in FY 2023/24. ➡️GDP per capita also increased from US Dollar 1,159 in FY2023/24 to US Dollar 1,263 in FY2024/25. ➡️In real terms, GDP grew by 6.3 percent compared to 6.1 percent in the previous Financial Year. ➡️As of July 2025, Uganda’s economy was characterized by stable inflation, increased private sector activity, a stronger and stable shilling, and prudent fiscal and monetary management. ➡️Inflation has been well-managed, with headline inflation easing to 3.8% in July 2025 from 3.9% in June 2025. ➡️To maintain inflation within the medium-term target of 5 percent, the Central Bank Rate (CBR) was maintained at 9.75 percent for the tenth consecutive month in July 2025. ➡️Economic indicators point to a vibrant economy with growing activity and positive business sentiments. ➡️Uganda’s currency continues to be competitive against the US Dollar. The Shilling appreciated by 0.5 percent in July 2025. The Shilling has been ranked the most stable currency in Africa by the International Financial Statistics Division of the International Monetary Fund (IMF). ➡️Over the last fifteen years, thirty-two (32) new export products have emerged comprising majorly manufactured goods. ➡️The proportion of people living below the poverty line reduced from 20.3 percent in FY 2019/20 to 16.1 percent in FY 2023/24. ➡️Foreign Direct Investment(FDI) amounted to US Dollar 3.30 billion in 2024 from US Dollar 2.99 billion in 2023, largely hinged on the developments in the oil & gas sector. ➡️Life expectancy of Ugandans has increased from 63.7 years to 68.9 years (UBOS). ➡️In the last twelve months ending June 2025, merchandise exports surged by 64.3 percent to US Dollar 1.15 billion from US Dollar 702.5 million in June 2024, due to higher receipts from export items such as coffee, mineral products, tea, fish and flowers, among others. ➡️Tourism inflows grew to US Dollar 1.52 billion in 12 months to March 2025, from US Dollar 1.36 billion during the same period in 2024. ➡️The economy is projected to grow faster by at least 7.0 percent in this current Financial Year 2025/26, and to double digits in the medium-term following commencement of oil and gas production. #StateOfTheEconomy #DoingMore