Minister Musasizi Urges Experts to Brainstorm Tenfold Economic Growth Strategies

Minister of Finance, Planning, and Economic Development, Henry Musasizi, has challenged Uganda’s intellectual and private sectors to devise groundbreaking strategies for achieving ambitious economic growth. Speaking at the 10th Economic Growth Forum in Kampala, Musasizi articulated the government’s objective: to multiply the nation’s economy tenfold by 2040, positioning Uganda as a competitive upper-middle-income country.

Musasizi stressed that meeting this target requires a departure from traditional economic policies. The prevailing global environment, characterized by rapid technological advancements, shifting trade and investment flows, geopolitical instability, and climate-related risks, demands agility and resilience from policymakers. He noted that while Uganda’s economy is projected to grow by 6.4% in the 2025/26 fiscal year, sustaining such momentum necessitates adaptation to these emerging pressures.

The minister urged academics and researchers present at the forum to present bold, evidence-based insights, even if they challenge established thinking. He also called for an open-minded approach from policymakers and encouraged the private sector to provide frank feedback on the obstacles hindering investment, productivity, and overall competitiveness.

The forum, organized annually by the Ministry of Finance since 2017, serves as a platform for generating policy recommendations. Musasizi acknowledged the valuable contributions from previous forums and commended the International Growth Centre for its partnership in strengthening evidence-based policymaking in Uganda.

These discussions are crucial as Uganda navigates a complex global landscape, seeking to leverage both challenges and opportunities to drive significant economic transformation. The ultimate aim is to foster an environment conducive to higher investment, enhanced productivity, and increased competitiveness.