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MOFPED and URA Agree on Target of 20% Tax to GDP Ratio by FY 2029/30

Finance Minister Henry Musasizi has met the Chairman of the Board of Directors of Uganda Revenue Authority Emmanuel Katongole together with the Senior Management Team led by the Commissioner General of Uganda Revenue Authority John Musinguzi.
The meeting focused on revenue enhancement measures for financial year 2026/27 to 2029/30.
The Minister said the strategic direction of URA is consistent with government ambition of raising the tax to GDP ratio which now stands at only 14.2%, adding that he is ready to work with URA to ensure that the target of 20% is achieved.

Finance Minister Launches Makerere University Strategic Plan 2025-2030

Launching the Strategic Plan at Makerere University, Finance Minister Henry Musasizi said Government is aware that sustainable economic transformation is fundamentally driven by knowledge, innovation, technology and human capital.
The Minister said Makerere’s Strategic plan rightly commits the University to optimize its research potential for national and global transformation, adding that the strategic plan comes at a defining moment when the country is pursuing its vision of growing the economy tenfold to USD 500 billion by 2040.

Uganda Secures €110.5 Million (UGX 481 Billion) for Kitgum-Kidepo Road

Finance Minister Henry Musasizi on behalf of the Government of Uganda and Chief Executive Officer of Standard Chartered Bank Uganda, Sanjay Rughani have signed €110.5 Million (UGX 481 billion) financing agreement for the Kitgum-Kidepo Road project.

Finance Minister Launches World Bank-Uganda Partnership Framework and Public Finance Review:

The Uganda Country Partnership Framework, is a 10-year operational strategy that lays out how the World Bank Group will support Uganda’s ambition to transform into a modern, prosperous and competitive upper-middle income country by 2040.

Finance Minister Calls for Improved Performance of World Bank Funded Projects

Finance Minister Henry Musasizi met the World Bank Division Director for Kenya, Rwanda, Somalia and Uganda Mr. Qimiao Fan to discuss the key development priorities, address implementation bottlenecks and strengthen the collaboration between Uganda and the World Bank.

Monetary-Fiscal Policy Coordination

Finance Minister Henry Musasizi met the Governor Bank of Uganda Dr. Micheal Atingi-Ego, his Deputy Prof. Augustus Nuwagaba and other Senior Bank officials to discuss ways of strengthening the coordination between the monetary and fiscal policy.
Ministry of Finance and Bank of Uganda play complementary and mutually re-inforcing roles in macroeconomic management and there is a clear memorandum of understanding between MoFPED and Bank of Uganda that establishes clear channels for collaboration and information sharing.

Finance Minister's Vision

Finance Minister Henry Musasizi shared his vision for the Ministry with the Ministry of Finance top management team as he embarked on executing his mandate.
While chairing his maiden top management meeting, Musasizi said his commitment is to transition Uganda from incremental growth to exponential economic take-off through these five pillars.
1.    The USD 500 billion target. “We shall relentlessly execute the tenfold growth strategy to turn Uganda into a USD 500 billion-dollar-economy,” he said.

Ggoobi Meets President of BADEA

 On the sidelines of the recently concluded 2026 Annual Meetings of the Islamic Development Bank in Baku, Azerbaijan, the Permanent Secretary and Secretary to the Treasury (PSST) Dr. Ramathan Ggoobi met the President of the Arab Bank for Economic Development in Africa (BADEA),H.E Abdullah Khalil AlMusaibeeh.

Islamic Development Bank’s Executive Board Approve Financing for Standard Gauge Railway Worth EUR 650.75 Million

 

This is the largest amount ever approved by the Board for a single project in Uganda.

The IsDB Board made the approval on the sidelines of the 51st Islamic Development Bank Group Board of Governors’ Annual meetings held in Baku, Republic of Azerbaijan (16th to 19th June 2026) under the theme, “Regional Integration for Sustainable Prosperity.” 

New Leadership: Kasaija Hands Over Office to Musasizi

Outgoing Finance Minister Matia Kasaija handed over Office to the New Finance Minister Henry Musasizi pledging to remain available to support the Ministry whenever called upon.

“We may be in different situations, but we remain a solid group. If you have got something that you think I can help out, I am ready,” said Kasaija in his parting shot.

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