Africa-Press – Uganda. Uganda is positioning itself for long-term economic transformation, Finance Minister Matia Kasaija has revealed.
Kasaija projected that with strategic investments, the country’s economy could reach 500 billion dollars within 15 years, fueled by oil, gas, and innovation-led growth.
“Our growth strategy focuses on four sectors: agro-industry, mineral-based industrial development, science and technology, and ICT,” Kasaija said.
He stressed that the government is committed to doubling oil and gas production, a move expected to boost both revenue and employment.
Kasaija emphasized the importance of sustainable social development, noting that poverty rates have dropped from 20% to 16.1%, while the country moved up in the Human Development Index, reaching the medium development category.
“Investments in wealth creation funds have supported women, youth, and marginalized groups,” he said.
Economic indicators show steady progress. Private sector credit has grown by 7.5%, reaching Shs 23.9 trillion, while the economy benefits from stable inflation and a competitive shilling.
“Our economic policies are designed to attract investment, support production, and ensure that growth is inclusive,” Kasaija said.
He highlighted Uganda’s growing export diversity, noting that over the past 15 years, new products such as ceramic tiles, mango products, and processed foods have reduced reliance on traditional exports like coffee.
Kasaija concluded with a call for responsible engagement from Ugandans.
“The economy is robust and moving forward. Citizens must take initiative, invest wisely, and ensure that they are active participants in Uganda’s development journey,” he said.
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