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

KAMPALA -- President Museveni has projected that Uganda's economy will grow to $80 billion in the next financial year, presenting the forecast as evidence of the country's continued economic transformation and urging leaders to embrace accountability, productivity and wealth creation.

Delivering his State of the Nation Address at Kololo Ceremonial Grounds on Thursday, Museveni said 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.

"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 said.

The President used the address to defend the National Resistance Movement's economic record, arguing that Uganda has undergone profound transformation since 1986.

"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," he said.

Museveni attributed the growth to progress in what he described as the four strategic sectors capable of driving national prosperity: commercial agriculture, manufacturing, services and information and communications technology.

The speech was dominated by his "No More Sleep" campaign message, which he expanded into a broader call for an end to corruption, complacency, diversionary politics and poor performance within both government and society.

"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," he said.

A significant portion of the President's address focused on Uganda's long-term efforts to move households from subsistence production into the money economy.

He traced these efforts back to campaigns launched in the 1960s to encourage communities, particularly in the cattle corridor, to embrace settled agriculture and commercial production.

Museveni pointed to the dairy industry as one of Uganda's most successful economic transformation stories.

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

According to the President, the growth in dairy production has enabled Uganda to reduce imports significantly while generating export earnings from proc