Henry Musasizi, Minister of State for Finance in Charge of General Duties
The government has reduced the 2025/26 national budget to Shs 57.441 trillion, a drop from the current Shs 72 trillion, and revealed that in the coming financial year, there will be no new taxes introduced, but rather, there will be a revision of the current tax laws.
The revelation was made by Henry Musasizi, Minister of State for Finance (General Duties), while tabling the 2025/26 National Budget Framework Paper, where he also revealed that Uganda’s economy has fully recovered from the effects of the COVID-19 pandemic, which battered businesses.
According to the minister, the 2025/26 budget will continue to prioritize the following economic fundamentals: peace and security, roads, railways, and electricity; irrigation; reducing the cost of capital; human capital development in health and education as well as water; international relations; and disaster management.
Minister Musasizi added, “Uganda’s economy has fully recovered and is on the right growth path driven by investments in the tenfold economic growth areas. Currently, there is high business and investment optimism in Uganda, with inflation contained at 2.9%, way below the policy target of 5%.”
