Museveni Predicts Uganda's Economy Will Hit $80 Billion Next Year

President Yoweri Museveni has projected that Uganda's economy will reach $80 billion in the next financial year, presenting the forecast as evidence of the country's ongoing economic transformation. Delivering his State of the Nation Address, Museveni stated the economy is expected to grow by 6.4 percent during the current financial year before accelerating to 10 percent growth in the 2026/27 financial year.

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This financial year, the economy is projected to grow by 6.4% and the next financial year the GDP will grow by 10%, pushing the size of the economy to $80 billion.

Museveni defended the National Resistance Movement's economic record, asserting that Uganda has undergone profound transformation since 1986, with GDP rising from $3.9 billion to $69.3 billion (or $197.1 billion by PPP method). He attributed this growth to progress in commercial agriculture, manufacturing, services, and information and communications technology.

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Our GDP rose from $3.9 billion in 1986 to now $69.3 billion by the forex exchange method or to USD 197.1 billion by the PPP method.

The President used the address to launch his "No More Sleep" campaign, expanding it into a call to end corruption, complacency, diversionary politics, and poor performance. He specifically called for an end to corruption, laziness, and unfair burdens on workers.

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It is 'no more sleep' and to clarify the message, I should add: no more corruption (obusi kuzi); no more Kukongola (leaning on your hoe when others are digging); no more Kugumaaza, Kuhuzya (diverting somebody's attention from the real target to a wrong target); no more kutuhenda (overburden us when we work and you are just sitting down); and no more politeness to non-performers.

A significant portion of the speech focused on Uganda's long-term efforts to move households from subsistence to the money economy. Museveni highlighted the dairy industry as a success story, with milk production increasing from 200 million liters per annum in 1986 to 5.4 billion liters currently. This growth has enabled Uganda to reduce imports significantly, saving approximately $1.56 billion annually, and generate an estimated $285.4 million from dairy exports.

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By 1986, the production of milk in Uganda was 200 million litres per annum. It is now 5.4 billion litres.