Market News

Elias Biryabarema

KAMPALA, April 30 (Reuters) – Uganda’s proposed budget for the 2025/2026 financial year has grown 25% to 71.9 trillion shillings ($19.6 billion), compared to the previous projection of 57.4 trillion shillings given in September, the finance ministry said.

The ministry did not provide a reason for the raise in a statement posted on X on Tuesday. The government has previously said spending priorities in the financial year starting July would be in agro-industrialisation, tourism and minerals including petroleum.

Parliament is currently scrutinising the proposed budget and, once approved, final spending plans will be outlined in a budget speech in June.

The planned spending for the financial year is slightly lower than 72.1 trillion shillings for the current financial year which ends in June.

($1 = 3,660.0000 Ugandan shillings)

(Reporting by Elias Biryabarema; Editing by Hereward Holland and Christopher Cushing)