Government Unveils Plan to Generate Over 8,000 Employment Opportunities

By Teddy Namayanja

With a commitment to tackling unemployment and fostering economic prosperity, the government has unveiled a landmark plan to generate over 8,000 new jobs, offering hope and opportunities to thousands of citizens. The communication was made by the Prime Minister of Uganda, Rt Hon Robinah Nabbanja, during the opening ceremony of the National Budget Conference held in Kampala today.

Speaking at the conference, Nabbanja emphasized the government’s focus on achieving economic growth and reducing poverty by 2026.

“We are targeting to grow from 6.5 to 8% per annum. The financial year 2025/ 2026 will be the last year of implementing the NRM manifesto, government is under obligation to provide accountability for what it has done in the last five years”. Nabbanja said.

She highlighted the strategy to grow the economy 10-fold from USD 55 billion in FY 2023/24 to USD 550 billion in the next 15 years.

Key Priorities include.

• Reducing poverty from 20.3% to a lower percentage
• Achieving a double-digit economic growth rate, targeting 8% per annum
• Implementing the NRM manifesto, with the financial year 2025/2026 being the last year of implementation

The Permanent secretary Ministry of Finance and Economic Development, Ramathan Ggoobi says government will continue to focus on increasing revenue, controlling borrowing, ensuring efficiency and effectiveness in the use the limited resources.

“Inflation has been reduced within the target rate of 5% +/-3; government is Pursuing a prudent fiscal policy with the aim of supporting macroeconomic stability”. Ggoobi said.

He says Ugandans will start realizing the benefits of social economic transformation when Uganda’s oil revenues start flowing in.

Here is the Economic Growth Strategy:

• Growing the economy 10-fold from USD 55 billion in FY 2023/24 to USD 550 billion in the next 15 years
• Focusing on four anchor sectors:
• Agro-industrialization
• Tourism development
• Minerals development
• Oil and gas
• Science, Technology, and Innovation (STI)

The National Budget Conference aims at guiding the overall budget process and ensure effective allocation of resources to drive economic transformation and improve the lives of Ugandans.

This year’s theme is: Full Monetization of Uganda’s Economy through:

• Commercial Agriculture
• Industrialization
• Expanding and Broadening Services
• Digital Transformation
• Market Access

This theme outlines the government’s strategic focus areas for achieving economic growth and development in the Financial Year 2025/2026.