President Museveni has said with the recent developments, Uganda is on an upward trajectory and is unstoppable.
“Uganda is moving forward. It is now irreversibly a middle-income country with a GDP per capita of USD 1,263 as already pointed out,” Museveni said.
The president was on Thursday giving the state of the nation address at Kololo Independence grounds.
He said the size of the economy is projected at Shs 224.9 trillion (equivalent to USD 60.4 billion), by the end of June, 2025.
“In 1986, the economy was only Shs 42.6 billion or USD 3.92 billion. This means that, in dollar terms, the size of Uganda’s economy has expanded nearly 15 times, since the NRM government took power, in January, 1986,” Museveni said.
“The economy grew by 6.7 percent in the first quarter of this financial year, compared to 5.6 percent
recorded in the same period last year. This is on top of the growth of 6.1 percent, in the financial year
2023/24. Economic growth is projected at 6.3 percent, this financial year; and further projected to
grow at 7.0 percent in the financial year 2025/26. It is projected to grow faster when commercial
production of oil and gas starts, next year.”
According to Museveni, in terms of Purchasing Power Parity (PPP) terms, Uganda’s economy is projected to be USD 171.6 billion by the end of this financial year in June, 2025; and projected to expand further to Shs. 252.6 trillion next financial year (equivalent to about USD 65.7 billion using the Atlas Method).
This will be equivalent to USD 187 billion, in Purchasing Power Parity (PPP) terms.
“This growth will translate into higher household incomes, from USD 1,259 income per capita, by the end of this financial year, to USD 1,330 as income per capita, next financial year.”
“All this, is in spite of the mistakes of the careerists that infiltrated in the
civilian echelons of the NRM and even within the UPDF to some extent. These are normally after
personal enrichment and power. They hardly bother with the salvation policies of Uganda or Africa. In spite of these mistakes and the external meddling, as you have seen, Uganda is unstoppable. ”
The president hinged the country’s progress on correct positions on philosophy, ideology and strategy and the fear of God.
“Therefore, the malignment notwithstanding, Uganda is moving forward. It is now irreversibly a middle-income country with a GDP per capita of USD 1,263 as already pointed out. It is number 7 among the fastest growing countries in the whole world (Source: IMF). It is growing at 6.3% per annum, it is projected to be 7% next year 2025/2026 and will grow in double digits after oil.”
