Uganda President Museveni outlines economic goals on 64th Independence Day

During Uganda’s 64th Independence Day celebrations at State House Entebbe, President Yoweri Museveni reflected on the nation’s economic journey and outlined goals for future transformation. He noted that since the National Resistance Movement took power in 1986, the economy has grown from approximately USD 3.9 billion to USD 69.3 billion. Museveni projected the economy could reach nearly USD 74 billion by June 2027, driven by industrialization, value addition, and anticipated oil production.

Despite this growth, Museveni emphasized that economic transformation remains incomplete. He identified several critical challenges, including household poverty, transport congestion, drought, and fuel price shocks. To address infrastructure issues, he called for increased investment in railway networks, pipelines, and lake transport to reduce the heavy reliance on road networks.

The President also urged citizens to transition from subsistence production to commercial economic activity through government initiatives like the Parish Development Model (PDM). He stressed the importance of expanding production and retaining more value from locally produced goods to ensure long-term stability.