Uganda: Govt Seeks Trade, Affordable Financing to Achieve $500 Billion Economy By 2040
The Ugandan government is seeking to boost its economy to $500 billion by 2040 by prioritizing trade partnerships and affordable development financing. Finance Minister Henry Musasizi emphasized a shift away from aid dependency toward domestic revenue mobilization and foreign investment.
Why it matters
Uganda's economic strategy highlights the broader trend of developing nations seeking sustainable, long-term financing models to achieve rapid industrialization.
KAMPALA -- The government has said Uganda is prioritising trade partnerships, investment and affordable development financing as part of efforts to achieve a USD500 billion economy by 2040.
The Minister of Finance, Planning and Economic Development, Henry Musasizi, said the country's economic transformation agenda requires increased investment flows, stronger trade links and improved domestic revenue mobilisation rather than dependence on aid.
Musasizi made the remarks on Thursday during a meeting with United Nations Development Programme (UNDP) Resident Representative Nwanne Vwede-Obahor and her delegation at the Ministry of Finance headquarters in Kampala.
The meeting, also attended by Minister of State for Privatisation and Investment Hajjat Amina Mukalazi, focused on strengthening cooperation between the government and UNDP, particularly in development financing and implementation of Uganda's development agenda.
Musasizi said Uganda's growth ambitions require access to affordable, long-term financing to support productive investments.
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