The accounting officers of government ministries, departments, and agencies have been directed to ensure strict efficiency and timely accountability.

The directive was announced by the Minister of Finance, Planning, and Economic Development, Matia Kasaija, on Thursday, September 14, 2023, while delivering a keynote address during the National Budget Conference for the financial year 2024-2025 held at the Serena Hotel, Kampala.

Minister Kasaija said all accounting officers must be at the forefront of ensuring efficient and effective implementation of government plans as well as timely reporting and accountability of results.

The conference was held under the theme “Full monetization of Uganda’s economy through commercial agriculture, industrialization, expanding and broadening services, digital transformation, and market access.

Minister Kasaija also urged other ministers to provide strategic leadership over their portfolios and programmes for the upcoming fiscal year to guarantee compliance with NRM government goals.

Kasaija stated that the budget for FY 2022–23 achieved tremendous progress in light of the economy’s recovery from COVID-19. The economy grew at 5.5%, compared to 4.6% in FY 2021–2022.

“The economy grew at 5.5% in FY 2022/23 compared to 4.6% in FY 2021/2022, better than average Sub-Saharan Africa’s growth rate of 3.6% estimated for calendar year 2023,” Kasaija said.

However, according to Kasaija, the overall net revenue collections for the months of June–August in this financial year were UGX 4,38.9 billion, compared to an estimate of UGX 4,139.6 billion, resulting in a UGX 1,1.67 billion shortfall.

He said that to accelerate economic growth, the budget for FY 2024–25 will focus on building an integrated, independent, and self-sustaining economy through ensuring security, good governance, and the rule of law.

While opening the conference, Prime Minister Robinah Nabbanja said the government is committed to ensuring that all efforts to lift 39% of the population from the subsistence economy are achieved.

“Working through the Parish Development Model, Emyooga, provision of financial services through the Microfinance Support Centre, and other village-based technologies such as the Nyakana model, we shall be able to create more jobs and wealth,” said the Prime Minister.

She stated that the government will continue to guarantee peace and security as well as the protection and promotion of fundamental and other human rights and freedoms.

The Budget Strategy for FY 2024/25, whose overarching objective is to hasten the transition from a raw materials-based to a manufacturing and knowledge-based economy to achieve economic growth of at least 7%.