The government has announced that the 2023–2024 financial year’s budget will focus on promoting individual wealth with an aim of bringing all Ugandans into the money economy.

Finance Minister Matia Kasaija, while presenting the National Budget during a special Parliamentary session held at Kololo Independence Grounds on June 15, 2023, said that the budget will enable Ugandans to make more money.

“I therefore dedicate this budget to all Ugandans who do not make more than Ugx20 million a year. This budget aims at bringing all of you into the money economy,” said Minister Kasaija.

He said that, the budget also aims at lowering the cost of doing business, promote value addition, and cause a transformation from a raw material economy to a manufacturing economy.

According to Minister Kasaija, the government intends to promote wealth creation programs in the country in a bid to eradicate poverty among Ugandans.

Minister Kasaija noted that the government has also allocated about Ugx2.25 trillion for improving flooding, traffic congestion, poor road infrastructure, un-signalized junctions, and unemployment in the Greater Kampala Metropolitan Area (GKMA), which covers Kampala, Wakiso, Mukono, and Mpigi districts and their municipalities.

This will upgrade 504 km of roads, including junction signalization in eight urban authorities; rehabilitation of 30 storm water drainage points; upgrading 23 markets; and constructing 25 artisanal parks and industrial work spaces for small-scale manufacturers, according to Minister Kasaija.

Minister Matia Kasaija: Uganda’s economy is projected to grow at 6% in financial year 2023/2024. Over the next five years, the economy is projected to grow at an average of 6.5-7% per year.